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MONTGOMERY COUNTY

Retirement System of the Stats of Maryland, or the
retirement system of an agency of the State of
Maryland or the retirement system of a political
subdivision of the State of Maryland or the retirement
system of a municipal corporation or a corporate body
authorized by the State of Maryland or the County to
perform governmental functions which is being operated
on an actuarial basis with contributions being made
during the active service of new members which are
computed to be sufficient to provide the reserves
needed to cover the retirement benefits payable on
their account may transfer his membership to the
Employees' Retirement System of Montgomery County upon
accepting elective or appointive office or employment
with Montgomery County Government. Before receiving
such credited service for prior service under another
retirement system, such member shall pay or cause to
be paid into the Employees' Retirement System of
Montgomery County that amount of money determined
necessary by the County Personnel Board on the basis
of an actuarial study to purchase in full this
credited service. Whenever such employee enters the
Retirement System of Montgomery County, he must within
thirty (30) days decide whether he wishes to purchase
credited service for a period of prior qualified
service under one of the above retirement systems.
There shall be no County contributions toward the
purchase of such service. Except when a specific
exception is made thereto such transfers may not
become effective without the execution of an agreement
of reciprocity. If the County Personnel Board
approves the payment of money due on an extended
payment basis, interest of not less than six and
one—half percent (6 1/2®) per annum shall be charged.
There shall be no crediting of service under the
Employees' Retirement System of Montgomery County for
any period of service under a qualified retirement
system for which the employee is receiving retirement-
pay or for which he has received vesting benefits.

(q) Transfers from the County Retirement System.
Any member leaving the employment of Montgomery County
or other covered employment may transfer, if he is
eligible for such transfer to the Employees'
Retirement System of the State of Maryland, the
Teachers' Retirement System of the State of Maryland,
other State retirement system, the retirement system
of an agency of the State of Maryland, or the
retirement system of a political subdivision of the
State of Maryland or the retirement system of a