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Session Laws, 1973
Volume 709, Page 956   View pdf image
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956                                       LAWS OF MARYLAND                                Ch. 459

(2)  The annuity provided as a result of voluntary contributions permitted under
this subtitle and its amendments shall be payable and shall not be used in
determining the additional pension, if any, [payable] DETERMINED under this
subdivision [, nor in determining the disability pension under § 195, subsection
(4)].

(3)  The payment of the additional pensions [provided] DETERMINED shall be
provided for in the budget bill submitted to the General Assembly by the Governor
and on receipt of the warrant of the Comptroller, annual payments shall be made
by the Treasurer of the State of Maryland to the aforesaid retirement system of
the amounts required to meet the current disbursements for such additional
pensions. [To this amount shall be added an amount equal to such additional
pensions for teachers who are members of the employees' retirement system of the
City of Baltimore, had they been members of the Teachers' Retirement System of
Maryland which amount shall be paid to the mayor and city council of Baltimore.

(4)   Any member of the system who made additional voluntary contributions
under § 198 (d) of this subtitle, prior to July 1, 1962, may withdraw the additional
amount of contributions, with interest, provided that refund is requested within one
year after July 1, 1962.

(5)  The provisions of subsection (2) (e) herein apply to members who retired
prior to June 30, 1962, as well as those who retire after that date.]

(4) EFFECTIVE JULY 1, 1973, THE PROVISIONS OF THIS
SUBSECTION (2) SHALL APPLY TO MEMBERS WHO RETIRED PRIOR
TO JULY 1, 1973.

195.

(4) Upon retirement for disability a member shall receive a service retirement
allowance if he has attained age 60, OR HAS COMPLETED THIRTY YEARS
OF CREDITABLE SERVICE, otherwise he shall receive a disability retirement
allowance which shall [consist of:

(a)   An annuity which shall be the actuarial equivalent of his accumulated
contributions at the time of retirement; and

(b)  A pension which, together with his annuity, shall provide a total retirement
allowance equal to one sixtieth] BE COMPUTED AS ONE FIFTY-FIFTH of
his average final compensation multiplied by the number of years of his creditable
service [, if such retirement allowance exceeds] BUT NOT LESS THAN one
quarter of his average final compensation; [otherwise a pension which, together
with his annuity, shall provide a total retirement allowance equal to one quarter of
his average final compensation], provided, however, that no such allowance shall
exceed one [sixtieth] FIFTY-FIFTH of his average final compensation multiplied
by the number of years which would be creditable to him were his service to
continue until the attainment of age 60. EFFECTIVE JULY 1, 1973, THE
PROVISIONS OF THIS SUBSECTION (4) SHALL APPLY TO MEMBERS
WHO RETIRED PRIOR TO JULY 1, 1973.

195.

(6)(A) Upon the receipt of proper proofs of the death of a member in service,
and provided that no benefit is payable under the provisions of Section 195(8)(b) of
this article, there shall be paid to the member's estate or to such person as he shall
have nominated by written designation duly executed and filed with the Board of
Trustees:

 

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Session Laws, 1973
Volume 709, Page 956   View pdf image
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