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Session Laws, 1973
Volume 709, Page 996   View pdf image
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996                                        LAWS OF MARYLAND                                Ch. 460

(2)  "Public school" shall mean any day school conducted within the State under
the authority and supervision of a duly appointed county board of education and
any educational institution supported by and under the control of the State, such
as the State normal schools, the School for the Feeble-Minded, and the School for
the Deaf.

(3)  "Teacher" shall mean any teacher, helping teacher, principal, supervisor or
superintendent, attendance officer, or clerk employed in a public day school within
the State or in any State educational institution supported and controlled by the
State. In all cases of doubt the board of trustees hereinafter defined, shall
determine whether any person is a teacher as defined in this article.

(4)  "Member" shall mean any teacher included in the membership of the system
as provided in § 192 of this article.

(5)   "Board of trustees" shall mean the board provided for in § 196 of this
article to administer the retirement system.

(6)  "Medical board" shall mean the board of physicians provided for in § 196
of this article.

(7)  "Service" shall mean service as a teacher as described in subsection (3) of
this section and paid for by the State of Maryland.

(8)    "Prior service" shall mean service rendered prior to the date of
establishment of the retirement system for which credit is allowable under § 194 of
this article.

(9)   "Membership service" shall mean service as a teacher rendered while a
member of the retirement system.

(10)  "Creditable service" shall mean "prior service" plus "membership service"
for which credit is allowable as provided in § 194 of this article.

(11)  "Beneficiary" shall mean any person in receipt of a pension, an annuity, a
retirement allowance or other benefit as provided by this subtitle.

(12)  "Regular interest" for the Annuity Savings Fund shall mean interest at a
rate per centum per annum compounded annually as may be set from time to time
by the board with a minimum rate of three per centum per annum and a
maximum rate of four per centum per annum. "Regular interest" for the
PURPOSES OF THE ACTUARIAL VALUATIONS [Annuity Reserve Fund,
the Pension Accumulation Fund and the Pension Reserve Fund] shall mean
interest at such rate or rates as may be set from time to time by the board of
trustees in accordance with § 197, subsection (2) of this article, as amended from
time to time.

As to any member who after June 1, 1958, leaves, and is no longer in active
service as a teacher, the rate or regular interest credited to the member's
accumulated contributions from the time of his leaving shall be three per centum.

(13)   "Accumulated contributions" shall mean the sum of all the amounts
deducted from the compensation of a member and credited to his individual
account in the Annuity Savings Fund together with regular interest thereon as
provided in § 198 of this article.

(14)  "Earnable compensation" shall mean the full rate of the compensation that
would be payable to a teacher if he worked the full normal working time.

 

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Session Laws, 1973
Volume 709, Page 996   View pdf image
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