1594                                            LAWS OF MARYLAND                          [Ch. 392

9.

(13)   ANY MEMBER WHO WAS FORMERLY EMPLOYED ON A
TEMPORARY OR EMERGENCY BASIS WITH THE STATE OR A
PARTICIPATING MUNICIPALITY, MAY PURCHASE CREDIT FOR SUCH
SERVICE UPON PAYMENT TO THE RETIREMENT SYSTEM, IN A
SINGLE PAYMENT, WITH INTEREST TO DATE OF PAYMENT, THE
CONTRIBUTIONS WHICH HE WOULD HAVE PAID HAD HE BEEN A
MEMBER OF THE RETIREMENT SYSTEM BUT WITHDREW.

(14)   ANY PERSON WHO BECOMES A MEMBER OF THE JUDGES'
PENSION SYSTEM AND HAS PREVIOUSLY SERVED AS A STATE
EMPLOYEE HAS THE RIGHT TO PURCHASE PREVIOUS SERVICE
CREDIT BY DEPOSITING IN THE RETIREMENT SYSTEM, IN A
SINGLE PAYMENT EITHER (1) THE AMOUNT OF ACCUMULATED
CONTRIBUTIONS PREVIOUSLY WITHDRAWN FROM THE RETIREMENT
SYSTEM, WITH INTEREST TO THE DATE OF REDEPOSIT, OR (2)
THE AMOUNT OF CONTRIBUTIONS WITH INTEREST WHICH WOULD
HAVE BEEN PAID HAD SUCH PERSON BEEN A MEMBER OF THE
RETIREMENT SYSTEM, WITH INTEREST TO DATE OF REDEPOSIT. AT
THE TIME SUCH PERSON IS ENTITLED TO DRAW BENEFITS FROM
THE JUDGES' PENSION SYSTEM, HE SHALL RECEIVE AN
ADDITIONAL ALLOWANCE EQUAL TO ONE FIFTY-FIFTH OF HIS
AVERAGE FINAL COMPENSATION AS AN EMPLOYEE MULTIPLIED BY
THE NUMBER OF YEARS OF PURCHASED CREDITABLE SERVICE.]]

SECTION [[3]] 2. AND BE IT FURTHER ENACTED, That
Section 191 of Article 77 — Public Education, of the
Annotated Code of Maryland (1969 Replacement Volume and
1973 Supplement) be and it is hereby repealed and
re—enacted, with amendments, to read as follows:

Article 77 - Public Education
191.

A retirement system is hereby established and placed
under the operation of the board of trustees for the
purpose of providing retirement allowances and other
benefits under the provisions of this subtitle for
teachers of the State of Maryland. The retirement
system so created shall be established as of August 1,
1927, and it shall be part of the Department of
Personnel. It shall have the power and privileges of a
corporation and shall be known as the "Teachers'
Retirement System of the State of Maryland," and by such
name all of its business shall be transacted, all of its
funds invested, and all of its cash and securities and
other property held; PROVIDED, HOWEVER, THAT THE BOARD OF
TRUSTEES IS HEREBY EMPOWERED TO AUTHORIZE THE STATE
TREASURER TO PLACE SECURITIES HELD BY THE BOARD IN THE
NAME OF A PARTNERSHIP TO BE FORMED UNDER THE LAWS OF
MARYLAND FOR THE SOLE AND SPECIFIC PURPOSE OF HOLDING