968                                        LAWS OF MARYLAND                                Ch. 459

shall file with the board of trustees, on a form prescribed by the board, a notice of
his election not to be covered in the membership in the Retirement System and a
duly executed waiver of all present and prospective benefits which would otherwise
inure to him on account of his participation in the Retirement System. Any person
who was a member of the State Police pension fund on June 1, 1949, and who
elected in 1949 not to be covered in the membership in the Retirement System,
shall have the further opportunity to become a member of the Retirement System,
at any time between June 1, 1961, and December 31, 1961, both dates inclusive,
and not thereafter; but this eligibility is only for persons who would be eligible for
membership in the Retirement System if they had begun their employment in
1961. If during that time he elects to be covered in the membership of the
Retirement System, his membership therein shall begin as of the first day of the
calendar month next following the day of his election, subject to the conditions of
this section and of the other provisions of this article not inconsistent with this
section. Any person who thus becomes a member of the Retirement System shall
receive credit therein for what would have been his prior service as of June 1, 1949.
Before being admitted to such membership, any such person shall pay to the
Retirement System the full amount of what would have been his accumulated
contributions therein had he in fact belonged to the system from June 1, 1949, to
the date upon which he becomes a member under the provisions of this action,
together with regular interest thereon. The State shall make such matching
contributions to the Retirement System as it would have made had the person in
fact belonged to the system from June 1, 1949, to the date upon which he becomes
a member under the provisions of this section, together with regular interest
thereon. Provided, however, that the payment by the State of such matching
contributions and also its payment of the prior service credit may together be paid
at such and in such amounts as may be recommended by the actuary for the
Retirement System.

(4) When membership ceases; reentry; credit for service as member of
Employees' Retirement System or Teachers' Retirement System. — Should any
member in any period of six consecutive years after last becoming a member be
absent from service more than two years, or should he withdraw all or part of his
accumulated contributions, or should he become a beneficiary or die, he shall
thereupon cease to be a member. However, any such person who has withdrawn
his accumulated contributions (other than one who has become a beneficiary or
died), may subsequently redeposit in the retirement system the amount of
accumulated contributions previously withdrawn, with interest to the date of
redeposit, and regain previous service credit with the condition, however, that he
may not retire within three years after the date of reentry in the retirement system.

Any member who had terminated membership in the Employees' Retirement
System or the Teachers' Retirement System may and upon deposit into the State
Police Retirement System of the accumulated contributions previously withdrawn
from the Employees' System or the Teachers' System, with interest to date of
deposit, receive credit in the State Police System for the service that, had
previously been terminated with the condition, however, that he may not retire
within three years after the date of entry in the State Police Retirement System.

53.

(2) (A) Upon retirement for service a member shall receive a service 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