930                                        LAWS OF MARYLAND                                Ch. 458

In the event an employee's rank is changed during the year, he shall be entitled
to the higher of the two applicable yearly overtime maximums for the duration of
the year. Overtime compensation shall not be paid to law-enforcement employees
taking basic training at the Police Academy, or to any law-enforcement employee
attending school or taking other training the length of which course is more than
thirty (30) days. Overtime payments shall not be taken into consideration for
retirement or pension purposes.

Overtime compensation shall not be paid to law-enforcement employees of the
Maryland State Police for hours worked as a result of loss of leave attributed to
disciplinary action by the Superintendent of the State Police. "Leave," as referred
to in this paragraph, means regular leave which is the two days of leave that
normally follows the five days of duty assigned said employees and not holiday,
vacation or personal leave.

[(COMPENSATORY TIME SHALL NOT BE GIVEN TO ANY
LAW-ENFORCEMENT EMPLOYEE ONCE HE HAS RECEIVED THE
MAXIMUM YEARLY OVERTIME AS SPECIFIED ABOVE IN ANY ONE
FISCAL YEAR.]]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.

Approved May 21, 1973.

CHAPTER 459
(House Bill 1264)

AN ACT to repeal and re-enact, with amendments, Sections 1, 3, 9(7), 11(3),
11(5), 11(9), 11(11), 11(15), 11A(e), 12(17), 13(2), 14, 15, 16, 26(b), and 27 of
Article 73B of the Annotated Code of Maryland (1970 Replacement Volume
and 1972 Supplement), title "Pensions," subtitles "In General," and
"Employees of Municipal Corporations," Sections 190, 192, 195(2), 195(4),
195(6), 195(8)(b), 195(10), 195A(e), 196(16), 197(2), 198, 199, and 205 of Article
77 of said Code (1969 Replacement Volume and 1972 Supplement), title
"Public Education," subtitle "Chapter 17. Teachers' Retirement System;" and
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 said Code (1969 Replacement Volume and 1972 Supplement),
title "State Police," subtitles "Pensions," and "State Police Retirement
System," and to repeal Section 31A of said article, title, and subtitle; reducing
the rates of contributions by members of the State Employees', Teachers', and
State Police Retirement Systems, simplifying and modifying the accounting
procedures and modifying the accrued liability contribution rates with respect to
said retirement systems, merging certain reserve funds in the respective
retirement system, modifying the retirement benefits formula of the Employees'
and Teachers' Retirement Systems to one-fifty-fifth of average final
compensation per year of service, providing unreduced benefits after thirty years
of service and a 6% reduction factor for each year of early retirement,
modifying the retirement benefit formula of the State Police Retirement System
to one-forty-fifth of average final compensation for the first 25 years of service
and one-ninetieth of average final compensation for service in excess of 25
years, changing the maximum interest rates under said three retirement systems,
reducing the vesting requirements for members of the Employees' and Teachers'