994                                        LAWS OF MARYLAND                                Ch. 460

(e)  Provided that the retirement allowance used in calculating the supplementary
payment shall be the total benefits provided in § 11 of this article except that it
shall not be based on any optional benefit chosen by the beneficiary and

(f)  Provided that such beneficiary, excepting any person who may be retired for
reasons of disability, who is eligible to receive benefits from the federal old age and
survivors' insurance system shall have any supplemental payment for which said
beneficiary is eligible, under this subtitle, reduced by an amount equal to the
benefit the beneficiary is entitled to receive from the federal old age and survivors'
system. Such reduction, however, shall not be greater than the total amount of the
supplemental payment for which said beneficiary is eligible.

(g)   When determining the amount of supplementary payments, the board of
trustees shall not consider any additional voluntary contributions by any employee
to his annuity savings account.

(h) Any employee who has less than thirty (30) years of service, and who files
for a deferred retirement allowance, shall not be entitled to receive a
supplementary pension benefit.]

15.

All pensions payable to former employees retired under the provisions of this
article and in force on the date this system is established shall be continued and
paid hereafter from the [Pension] Accumulation Fund at the full amounts
stipulated under said article. The residue of any appropriation made for the
payment of such pension shall be transferred and credited to the [Pension]
Accumulation Fund. Any additional amounts required to continue such pensions
shall be provided by an increase in the accrued liability contribution otherwise
payable to the [Pension] Accumulation Fund.

16.

The creation and maintenance of reserves in the [Pension] Accumulation Fund,
the maintenance of annuity reserves and pension reserves as provided for, and
regular interest creditable to the various funds as provided in § 14 of this article,
and the payment of all pensions, annuities, retirement allowances, refunds and
other benefits granted under the provisions of this article and all expenses in
connection with the administration and operation of this retirement system, are
hereby made obligations of the State. All income, interest and dividends derived
from deposits and investments authorized by this article shall be used for the
payment of the said obligations of the State. Any amounts derived therefrom
which, when combined with the regular amounts otherwise contributable by the
State, exceed the amount required to provide said obligations, shall be used to
reduce the regular appropriations otherwise required, except as otherwise provided
in § 14 [(3)] (2) (j) of this article.

26.

(b) Each participating municipal corporation shall make a special accrued
liability contribution on account of its approval of the participation of its officers
and employees in the Employees' Retirement System of the State, which
contribution shall be determined by an actuarial valuation of the accrued liability
on account of the officers and employees of such participating municipal
corporation who elected to become members in the same manner as the accrued
liability [rate] was originally determined for State employees. This special accrued
liability contribution DETERMINED AS HEREINAFTER PROVIDED , subject
to such adjustment as may be necessary on account of any additional prior service
credits awarded to officers or employees of such participating municipal