Ch. 460                             MARVIN MANDEL, Governor                                1011

(h) When determining the amount of supplementary payments, the board of
trustees shall not consider any additional voluntary contributions by any teacher to
his annuity savings account.

(i) Any teacher who has less than thirty (30) years of service, and who files for a
deferred retirement allowance, shall not be entitled to receive a supplementary
pension benefit.]

199.

All pensions to teachers retired under Chapter 447 of the Acts of 1920 in force
on the date this retirement system is established shall be continued and paid
thereafter from the [Pension] Accumulation Fund created by this subtitle. The
residue of any appropriation made for the payment of the pension of teachers
retired under Chapter 447 of the Acts of 1920 shall be transferred and credited to
the [Pension] Accumulation Fund created by this subtitle.

205.

The creation and maintenance of reserves in the [Pension] Accumulation Fund,
the maintenance of annuity reserves and pension reserves as provided for, and
regular interest creditable to the various funds as provided in § 198, of this article,
and the payment of all pensions, annuities, retirement allowances, refunds and
other benefits granted under the provisions of this subtitle, and all expenses in
connection with the administration and operation of this retirement system are
hereby made obligations of the State of Maryland. All income, interest and
dividends derived from deposits and investments authorized by this subtitle shall be
used for the payment of the said obligations of said State. Any amounts derived
therefrom which, when combined with the regular amounts, otherwise
contributable by the State of Maryland as provided under the provisions of this
subtitle, exceed the amount required to provide such obligations, shall be used to
reduce regular appropriations otherwise required, except as otherwise provided in §
198 [(3)] (2)(J) of this article.

SEC. 3. AND BE IT FURTHER ENACTED, That Sections 34A(e), 49, 51,
53(2), 53(4), 53(8), 53A(e), 54(17), 55(2), 56, 57, and 59 of Article 88B of the
Annotated Code of Maryland (1969 Replacement Volume and 1972 Supplement),
title "State Police," subtitles "Pensions," and "State Police Retirement System,"
be and they are hereby repealed and re-enacted, with amendments, and that
Section 31A of said article, title, and subtitle, be and it is hereby repealed, and all
to read as follows:

34A.

(e) In no instance shall any retired member receive less than the benefits to
which he would be entitled under the provisions of [§§] § 31 [and 31A] of this
article[.] PROVIDED FURTHER THAT ANY MEMBER RETIRED PRIOR
TO JULY 1, 1973, SHALL, IN NO INSTANCE, RECEIVE LESS BENEFITS
THAN HE HAD RECEIVED PRIOR TO SUCH DATE. ANY MEMBER
WHO RETIRED PRIOR TO JULY 1, 1958 WITH THIRTY (30) OR MORE
YEARS OF SERVICE SHALL NOT RECEIVE BENEFITS IN ANY
AMOUNT LESS THAN [[THIRTY-SIX HUNDRED DOLLARS ($3,600)]]
FOUR THOUSAND DOLLARS ($4,000) PER ANNUM.