Montgomery County                            2851

System of Montgomery County in a lump sum twelve percent (12%)
of all earnings, if any, as such elected official during this period of
time, plus four percent (4%) interest per annum from the date of
his election through July 1, 1970. Before such elective member may
be credited for any service on or after March 21, 1966 he must
pay into the Employees' Retirement System of Montgomery County
in a lump sum or on an extended payment basis six percent (6%) of
his earnings during the period March 21, 1966 and the date of enact-
ment of this Article, plus four percent (4%) interest per annum and
the County must match such contributions and interest for this
period. If the County Personnel Board approves the payment of any
such contributions and interest on an extended payment basis, in-
terest of not less than six and one-half percent (6½%) per annum
will be charged.

Each such elective member may also obtain credited service under
this retirement system for all service as a member of the Montgomery
County Board of Education on or after March 1, 1948, provided that
such appointive official shall pay into the Employees' Retirement
System in a lump sum or on an extended payment basis, six percent
(6%) of his regular earnings, if any, during the period of time
he was a member of such Board, plus four percent (4%) interest
per annum, and the County must match such contributions and in-
terest for this period. If the County Personnel Board approved the
payment of contributions and interest on an extended payment basis,
interest of not less than six and one-half percent (6½%) interest per
annum shall be charged.

(n) "Use of sick leave for obtaining credited service." If an
employee whose retirement is effective on or after May 1, 1970 elects
to have his accumulated sick leave credited for retirement purposes,
in lieu of participating in any sick leave bonus incentive plan or
payment plan that may be adopted and included as part of the Per-
sonnel Regulations, each one hundred and seventy-six (176) hours
of accumulated sick leave will be considered as being the equivalent
of one (1) month of creditable service for retirement purposes and
up to four thousand two hundred twenty-four (4224) hours of sick
leave shall be creditable for retirement purposes and it may be used
by a member to accelerate his normal retirement date. Accumulated
sick leave of less than twenty-two (22) days shall not be creditable
for retirement purposes.

(t) Credited service for period of prior County service. Each
present or former full-time employee of Montgomery County before
March 1, 1948 and who was subsequently appointed to a full-time
County position on or before July 1, 1970 shall be eligible to be
credited for such period of full-time County service pursuant to the
provisions of Section 94-65(e) "Recredited Service for Period of
County Service." Such present or former employee retiring on or