MARVIN MANDEL, Governor                                      413

MARYLAND. THE BOARD OF TRUSTEES OF THE EMPLOYEES'
RETIREMENT SYSTEM SHALL BE RESPONSIBLE FOR THE
MANAGEMENT ANE INVESTMENTS OF THE FUNDS AND THE
ADMINISTRATION OF THE PENSION SYSTEM PROVIDED FOR IN
THIS SUBSECTION. AN AMOUNT EQUAL TO THE JUDGES'
CONTRIBUTIONS MADE UNDER THIS SUBSECTION PRIOR TO JULY
1, 1970, SHALL BE CREDITED BY THE STATE TREASURER TO
THE APPROPRIATE FUND OF THE EMPLOYEES' RETIREMENT
SYSTEM.

(8) AS USED IN THIS SUBSECTION THE TERM
"INITIAL APPOINTMENT" MEANS THE FIRST APPOINTMENT AS A
JUDGE OF THE COURT OF APPEALS, COURT OF SPECIAL
APPEALS, CIRCUIT COURT OR SUPREME BENCH, AND SHALL NOT
APPLY TO A JUDGE WHO RECEIVES A SUBSEQUENT APPOINTMENT
OR REAPPOINTMENT TO ANY OF THE AFOREMENTIONED COURTS.
THE TERM "INITIALLY ELECTED" MEANS A PERSON WHO FIRST
BECOMES A JUDGE OF ONE OF THE AFOREMENTIONED COURTS BY
BEING ELECTED TO THE OFFICE.

56. SAME - INCREASE IN RETIREMENT ALLOWANCE.

ANY JUDGE ON JULY 1, 1970, WHO IS RECEIVING A
RETIREMENT ALLOWANCE UNDER THE PROVISIONS OF
SUBSECTIONS (A), (B) , OR (C) OF §55 OF THIS ARTICLE
SHALL RECEIVE AN ADDITIONAL RETIREMENT ALLOWANCE EQUAL
TO ONE SIXTH OF THE RETIREMENT ALLOWANCE PROVIDED
UNDER SUBSECTIONS (A) , (B) , OR (C) OF §55 OF THIS
ARTICLE. ANY JUDGE WHO IS RECEIVING A SUPPLEMENTATION
OF THE RETIREMENT ALLOWANCE FROM A COUNTY OR BALTIMORE
CITY SHALL NOT RECEIVE THE ADDITIONAL RETIREMENT
ALLOWANCE PROVIDED IN THIS SECTION UNLESS HIS
SUPPLEMENTATION IS REDUCED BY AN AMOUNT EQUIVALENT TO
THE INCREASE IN RETIREMENT ALLOWANCE PROVIDED UNDER
THIS SECTION.

57. SAME - ADJUSTMENT OF RETIREMENT ALLOWANCE.

(A)    FOR THE FISCAL YEAR BEGINNING JULY 1, 1971,
AND FOR EACH FISCAL YEAR THEREAFTER, EACH RETIRED
MEMBER'S RETIREMENT ALLOWANCE AS HEREUNDER DEFINED,
SHALL BE ADJUSTED BY A RATIO AS PROVIDED IN THIS
SECTION.

(B)   (1) EACH RETIRED MEMBER SHALL HAVE A BASE
WHICH SHALL BE THE CONSUMER PRICE INDEX FOR THE
CALENDAR YEAR ENDING DECEMBER 31ST OF THE FISCAL YEAR
IN WHICH HE HAS LAST EMPLOYED.