Ch. 459                             MARVIN MANDEL, Governor                                  955

[(d)] (B) Provided, however, that if the member who has not attained the age of
sixty at the time of retirement has rendered less than thirty [-five] years of
creditable service, the [pension and additional pension, if any, shall be] SERVICE
RETIREMENT ALLOWANCE payable at retirement [and] shall be [the
actuarial equivalent at that time of a pension and additional pension payable at the
age of sixty or at the age at which thirty-five years of creditable service would have
been rendered had the member continued in service, whichever occurs first, in the
amounts computed as provided in (b) and (c) above and (e) (1) below; or, such
member may elect at the time of retirement to have his service retirement
allowance deferred to commence upon the attainment of the age of sixty or the age
at which thirty-five years of creditable service would have been rendered had the
member continued in service, whichever occurs first, in which event the annuity
shall be the actuarial equivalent of his accumulated contributions at that age, and
the pension or pensions under (b) and (c) above and (e) (1) below shall be in the
amounts computed as therein provided. Further, provided that a member who has
rendered at least thirty years of creditable service and has attained age fifty-five
may also receive the benefits set forth in subsections (b), (c) and (e) of this section
without actuarial reduction, and provided further that any such actuarial reduction
of benefits, as set forth in this subsection shall be calculated from age sixty, or
from the age at which the member would have rendered thirty-five years of
creditable service, or would have attained age fifty-five and would have rendered
thirty years of creditable service, whichever calculation provides the least actuarial
reduction.] REDUCED BY ONE-HALF OF ONE PER CENTUM FOR EACH
MONTH BY WHICH HIS DATE OF RETIREMENT PRECEDES THE
EARLIER OF (I) THE DATE HE WOULD HAVE ATTAINED AGE SIXTY
OR (II) THE DATE HE WOULD HAVE COMPLETED THIRTY YEARS OF
CREDITABLE SERVICE HAD HE CONTINUED IN SERVICE.

(C) PROVIDED THAT IN THE CASE OF ANY MEMBER WHO HAS
ELECTED TO DISCONTINUE CONTRIBUTIONS IN ACCORDANCE
WITH THE PROVISIONS OF § 198(1)(B), THE SERVICE RETIREMENT
ALLOWANCE SHALL BE ' REDUCED BY THE ACTUARIAL
EQUIVALENT OF THOSE CONTRIBUTIONS WHICH HE HAS NOT
PAID, WITH INTEREST TO DATE OF RETIREMENT.

[(e)] (D)(l) Notwithstanding anything in this subtitle to the contrary, if the
[retirement allowance consisting of the] annuity resulting from the member's
regular contributions [and the pension determined in accordance with paragraphs
(b) and (c) above is less than one sixtieth of average final compensation for each
year of creditable service, an additional pension equal to the difference between
such allowance shall be payable; except that any member who elects to discontinue
contributions in accordance with the provisions of § 198 (1) (b), the additional
pension so provided herein shall be reduced by the actuarial equivalent of those
contributions which he had not paid, with interest to date of retirement; provided,
however, that if the member who has not attained the age of sixty at the time of
retirement has rendered less than thirty-five years of creditable service, the
additional pension equal to the difference between such allowance shall be reduced
on an actuarial equivalent basis, unless the member has attained the age of
fifty-five and has rendered at least thirty years of creditable service.] IS LESS
THAN ONE-HALF OF THE RETIREMENT ALLOWANCE FOR
MEMBERSHIP SERVICE DETERMINED UNDER PARAGRAPHS (A)
AND (B) OF THIS SUBSECTION (2), THE DIFFERENCE, REFERRED TO
HEREINAFTER AS THE "ADDITIONAL PENSION", SHALL BE
PAYABLE AS PROVIDED UNDER § 195(2)(D)(3); EXCEPT THAT SUCH
ADDITIONAL PENSION SHALL BE REDUCED BY THE AMOUNT, IF
ANY, DETERMINED UNDER PARAGRAPH (C) OF THIS SUBSECTION
(2).