1848                             Laws of Maryland                      [Ch. 734

(a)    An annuity which shall be the actuarial equivalent of his
accumulated contributions at the time of retirement; and

(b)    A pension which shall be equal to one one-hundred and
twentieth of his average final compensation multiplied by the number
of years of his service since he last became a member; and

(c)    If he has a prior service certificate in full force and effect,
an additional pension which shall be equal to one sixtieth of his
average final compensation multiplied by the number of years of
service certified on his prior service certificate;

(d)    Provided, however, that if the member who has not attained
the age of sixty at the time of retirement has rendered less than
[thirty-five] thirty years of creditable service, the pension and addi-
tional pension, if any, shall be payable at retirement and shall be
the actuarial equivalent at that time of a pension and additional
pension payable at the age of sixty or at the age at which [thirty-
five] thirty years of creditable service would have been ren-
dered had the member continued in service, whichever occurs first,
in the amounts computed as provided in (b) and (c) above and (e)
(1) below; or, such member may elect at the time of retirement to
have his service retirement allowance deferred to commence upon
the attainment of the age of sixty or the age at which [thirty-
five] thirty years of creditable service would have been rendered
had the member continued in service, whichever occurs first, in
which event the annuity shall be the actuarial equivalent of his
accumulated contributions at that age, and the pension or pensions
under (b) and (c) above and (e) (1) below shall be in the amounts
computed as therein provided. FURTHER, PROVIDED THAT A
MEMBER WHO HAS RENDERED AT LEAST THIRTY YEARS
OF CREDITABLE SERVICE AND HAS ATTAINED AGE
FIFTY-FIVE MAY ALSO RECEIVE THE BENEFITS SET
FORTH IN SUBSECTIONS (B), (C), AND (E) OF THIS
SECTION WITHOUT ACTUARIAL REDUCTION, AND PRO-
VIDED FURTHER THAT ANY SUCH ACTUARIAL REDUC-
TION OF BENEFITS, AS SET FORTH IN THIS SUBSEC-
TION SHALL BE CALCULATED FROM AGE SIXTY, OR FROM
THE AGE AT WHICH THE MEMBER WOULD HAVE REN-
DERED THIRTY-FIVE YEARS OF CREDITABLE SERVICE,
OR WOULD HAVE ATTAINED AGE FIFTY-FIVE AND
WOULD HAVE RENDERED THIRTY YEARS OF CREDIT-
ABLE SERVICE, WHICHEVER CALCULATION PROVIDES
THE LEAST ACTUARIAL REDUCTION.

(e) (1) Notwithstanding anything in this subtitle to the contrary,
if the retirement allowance consisting of the annuity resulting from
the member's regular contributions and the pension determined in
accordance with paragraphs (b) and (c) above is less than one
sixtieth of average final compensation for each year of creditable
service, an additional pension equal to the difference between such
allowance shall be payable; except that any member who elects to
discontinue contributions in accordance with the provisions of Sec-
tion 198 (l)(b), the additional pension so provided herein shall be
reduced by the actuarial equivalent of those contributions which
he had not paid, with interest to date of retirement; provided,
however, that if the member who has not attained the age of sixty
at the time of retirement has rendered less than [thirty-five]