Ch. 459                             MARVIN MANDEL, Governor                                  933

Board shall fix the value of that part of the compensation not paid in money.

(15)   "Average final compensation" shall mean the average annual earnable
compensation of an employee for the three years of service as an employee during
which his earnable compensation was highest, or if he had less than three years of
service, then his average earnable compensation for his total service. The average
final compensation of the judges of the Municipal Court of Baltimore City shall be
based on the total salary received by them from both the State and the city.
Effective July 1, 1971, the provisions of this subsection shall be applicable to
members who retired after July 1, 1970, as well as to those members who retire on
or after July 1, 1971. Effective July 1, 1972, the provisions of this subsection shall
be applicable to those members who retired on or prior to July 1, 1970.

In the determination of average final compensation, any extraordinary salary
increase in the last year prior to retirement shall be excluded, and the board of
trustees by a rule of general application shall determine what constitutes an
extraordinary salary increase.

(16)   "Annuity" shall mean payments for life derived from the accumulated
contributions of a member. All annuities shall be payable in equal monthly
installments.

(17)  "Pension" shall mean payments for life derived from money provided by
the State. All pensions shall be payable in equal monthly installments.

(18)   "Retirement allowance" shall mean the sum of the annuity and the
pension, or any optional benefit payable in lieu thereof.

(19)  "Retirement" shall mean withdrawal from active service with a retirement
allowance granted under the provisions of this article.

(20)  "Annuity reserve" shall mean the present value of all payments to be made
on account of any annuity, or benefit in lieu of any annuity, computed upon the
basis of such mortality tables as shall be adopted by the board of trustees, and
regular interest.

(21)  "Pension reserve" shall mean the present value of all payments to be made
on account of any pension, or benefit in lieu of any pension, computed upon the
basis of such mortality tables as shall be adopted by the board of trustees, and
regular interest.

(22)  "Actuarial equivalent" shall mean a benefit of equal value when computed
upon the basis of such mortality tables as shall be adopted by the board of
trustees, and regular interest.

(23) The masculine pronoun, wherever used, shall include the feminine pronoun.
3.

The membership of the retirement system shall consist of the following:

(1) Any person who shall become an employee as herein defined after the date
of establishment shall become a member of the retirement system as a condition of
employment         HAND ANYTHING TO THE CONTRARY

NOTWITHSTANDING SUCH PERSON SHALL NOT BE ENTITLED TO
RECEIVE ANY PENSION OR RETIREMENT ALLOWANCE FROM ANY
OTHER PENSION OR RETIREMENT SYSTEM IF THAT PENSION OR
RETIREMENT ALLOWANCE IS SUPPORTED IN WHOLE OR IN PART
BY THE STATE OF MARYLAND, EXCEPT BENEFITS FROM SOCIAL
SECURITY]]. Any person, employed during the period July 1, 1970 through June