MARVIN MANDEL, Governor                             1591

At the time of retirement as a judge in one of the
listed courts, the member is eligible to receive benefits
from both the retirement system and the Judges' Pension
System. Upon retirement, no salaried State employee,
judge, legislator, or executive official may receive
benefits under sore than one pension system for the same
period of service.

(2) (a) The Accumulation Fund shall be the fund in
which shall be accumulated all reserves for the payment
of all pensions and other benefits payable from
contributions made by the State and from which shall be
paid all retirement allowances and the lump sum death
benefits payable from said contributions. Contributions

to and payments from the Accumulation Fund shall be made
as follows:

(b) On account of each member there shall be paid

annually into the Accumulation Fund by the State for the

preceding fiscal year an amount equal to a certain

percentage of the annual earnable compensation of each

member to be known as the "normal contribution," and an

additional amount equal to a percentage of his annual

earnable compensation to be known as the "accrued

liability contribution," The rates per centum of such

contributions shall be fixed on the basis of the

liabilities of the retirement system as shown by

actuarial valuation.

          -J.

(c) On the basis of regular interest and of such
mortality and other tables as shall be adopted by the
board of trustees, the actuary engaged by the board to
make each valuation required by this article during the
period over which the accrued liability contribution is
payable, immediately after making such valuation, shall
determine the uniform and constant percentage of the
earnable compensation of the average new entrant, which
is contributed on the basis of compensation of such new
entrant throughout his entire period of active service
would be sufficient to provide for the payment of any
death benefit or pension payable on his account. The
rate per centum so determined shall be known as the
normal contribution rate. After the accrued liability
contribution has ceased to be payable, the normal
contribution rate shall be the rate per centum of the
earnable compensation of all members obtained by
deducting from the total liabilities of the Accumulation
Fund the amount of the funds in hand to the credit of
that fund and dividing the remainder by one per centum of
the present value of the prospective future salaries of
all members as computed on the basis of the mortality and
service tables adopted by the board of trustees, and

14.