1010 LAWS OF MARYLAND Ch. 460
(c) Which is computed pro rata on the basis of the following condensed table:
Beneficiary Receiving
Under Sec. 195 of Length of Supplementary
Teachers' Retirement Law Service Payments
$ 900 25 years $1100
1200 25 years 900
1500 25 years 825
1800 25 years 750
2100 25 years 675
2400 25 years 600
2700 25 years 525
3000 25 years 450
3300 25 years 375
3600 25 years 300
3900 25 years 225
4200 25 years 150
4500 25 years 75
4800 25 years 0 and
(d) Which pro rata computation is made by the use of the following formula:
$4800 - b c.s
-------------- x --------
4 25
in which formula "b" represents "benefits provided by § 195" and "c.s."
represents "years of creditable service," and
(e) Provided that the retirement allowance used in calculating the supplementary
payment shall be the total benefits provided in § 195 of this article except that it
shall not be based on any optional benefit chosen by the beneficiary and
(f) Provided that such beneficiary, excepting any person who may be retired for
reasons of disability, who is eligible to receive benefits from the federal old age and
survivors' insurance system shall have any supplemental payment for which said
beneficiary is eligible, under this subtitle, reduced by an amount equal to the
benefit the beneficiary is entitled to receive from the federal old age and survivors'
system. Such reduction, however, shall not be greater than the total amount of the
supplemental payment for which said beneficiary is eligible.
(g) Provided that in the case of any person who has retired as a member of any
local retirement or pension system operated by any particular city or county of this
State for teachers to which system the State's contributions for benefits is paid
pursuant to the provisions of § 198(6) (a) of this article, the supplementary
payments authorized by the provisions of this section shall be paid to the treasurer
of the particular city or county operating such local retirement or pension system;
provided, further that the total retirement benefits, including any and all
supplementations thereto, paid or distributed by any such local retirement or
pension system shall not be less than is provided in this article for any person with
similar service and wage records; and provided, further, that nothing contained in
this subsection shall operate to reduce the total retirement benefit or benefits,
including any such supplementations thereto, being paid as of June 30, 1962, to
any retired individual; and provided, further, that the total payments made by the
State under the provisions of this subsection to the treasurer of any particular city
or county operating any such local retirement or pension system shall be used only
for the purpose of making payment to retired individuals and shall not be used for
any other purpose.
|