708                              Laws of Maryland                      [Ch. 189

CHAPTER 189
(Senate Bill 39)

AN ACT to repeal and re-enact, with amendments, Section 192 (3a)
of Article 77 of the Annotated Code of Maryland (1971 Supple-
ment), title "Public Education," subtitle "Chapter 17. Teachers'
Retirement System," to extend the time limit under which the
transfer of Baltimore City teachers to the State System shall be
implemented, and amending the retirement law to require the
Employees' Retirement System of the City of Baltimore to pro-
vide certain data.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 192(3a) of Article 77 of the Annotated Code of Mary-
land (1971 Supplement), title "Public Education," subtitle "Chap-
ter 17. Teachers' Retirement System," be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

192.

(3a) Anything to the contrary notwithstanding, effective July
1, 1971, all members and/or beneficiaries of the Employees' Retire-
ment System of the City of Baltimore who in the absence of the
City System would have qualified for membership or benefits here-
under shall become members and/or beneficiaries of this State
System.

Commencing July 1, 1971, the Board of Trustees of this Retire-
ment System and the Board of Trustees of the Employees' Retirement
System of the City of Baltimore shall proceed to implement as soon
as practicable thereafter, and before July 1, [1972] 1973, the admin-
istrative processes necessary for orderly transition of the member-
ship arrangements provided under this subsection. Within these
time limits the Board of Trustees shall arrange for the commence-
ment of the payment of retirement allowances and supplementary
payments to transferred beneficiaries in receipt of benefits in such
amounts as are payable from the City System, consistent with the
provisions of this subsection and Article. Provided, however, that
the System from which each member or beneficiary is transferred
has the absolute obligation for and shall pay any amount to which
the member or beneficiary would have been entitled under the pro-
visions of the local system as they exist as of July 1, 1971, to the
extent, if any, that amount exceeds what is provided under this
Article.

The rate of contribution payable under this Retirement System
by each transferee who has not retired shall be determined on the
basis of his age and time of entry into the City System.

The assets transferable from the City System to the State Sys-
tem shall be determined on a basis satisfactory to both Boards. The
transfer shall include the actuarial value of the unexpended balance
of the State's contributions to the City System with interest to the
date of transfer, the accumulated contributions of active members,
and the actuarial value of the annuities payable to beneficiaries as
of the date of transfer. The assets shall be transferred on or
before June 30, [1972] 1973. Prior to this transfer, the City System