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Session Laws, 1974
Volume 713, Page 1758   View pdf image
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1758                                                 LAWS OF MARYLAND [Ch. 483

AND HE LEAVES NO SPOUSE, HIS ACCUMULATED CONTRIBUTIONS TO
THE FUND, PLUS INTEREST AT FOUR PERCENT FROM THE DATES OF
PAYMENT, SHALL BE PAID TO HIS ESTATE.

(K) AT THE TIME OF TERMINATION OF HIS SERVICE, OR
WITHIN SIX MONTHS THEREAFTER, BUT BEFORE RECEIVING A
PENSION PAYMENT, A FORMER JUDGE MAY ELECT TO WITHDRAW IN
A LUMP SUM HIS ACCUMULATED CONTRIBUTIONS TO THE FUND PLUS
INTEREST AT FOUR PERCENT FROM THE DATES OF PAYMENT. IF
HE ELECTS TO WITHDRAW, HE HAS NO FURTHER RIGHTS UNDER THE
PENSION PLAN.

(L) A FORMER JUDGE WHO, ON TERMINATION OF HIS
SERVICE WITHDREW HIS CONTRIBUTIONS FROM THE FUND, AND WHO
THEREAFTER AGAIN BECOMES A JUDGE, MAY OBTAIN CREDIT FOR
HIS PRIOR YEARS OF SERVICE AS A JUDGE BY REPAYING TO THE
FUND THE AMOUNT WITHDRAWN PLUS INTEREST AT FOUR PERCENT,
WITHIN ONE YEAR AFTER HE IS ELECTED OR CONFIRMED FOR A
NEW TERM.

(M) CONTRIBUTIONS MADE UNDER   THIS SECTION SHALL BE

CREDITED TO THE FUND. THE BOARD     OF TRUSTEES OF THE

SYSTEM SHALL BE RESPONSIBLE FOR     THE MANAGEMENT AND

INVESTMENT OF THE ASSETS OF THE FUND, AND FOR THE
ADMINISTRATION OF THE PLAN.

(N) THE PENSION PROVIDED A FORMER JUDGE OR HIS

SPOUSE UNDER THIS SECTION SHALL NOT BE SUPPLEMENTED BY A

COUNTY OR BALTIMORE CITY.

58.

(A) EVERY JUDGE WHO IS NOT COVERED BY THE
CONTRIBUTORY PLAN IS COVERED BY THE NONCONTRIBUTORY PLAN,
AND SHALL BE PAID, AFTER THE TERMINATION OF SERVICE, A
PENSION CALCULATED AT THE RATE OF $750 PER ANNUM FOR EACH
YEAR, OR ANY PART THEREOF, OF ACTIVE SERVICE AS A JUDGE
UP TO AND INCLUDING 16 YEARS, SO THAT THE MAXIMUM PENSION
FOP SUCH SERVICE PAYABLE HEREUNDER SHALL NOT EXCEED THE
SUM OF $12,000 PER ANNUM.

(1)    THE AMOUNT OF PENSION IS INCREASED BY $100 FOR
EACH YEAR OR PART OF A YEAR OF SERVICE BY THE JUDGE AS A
MEMBER OF THE COURT OF APPEALS, AND BY $50 FOR EACH YEAR
OR PART OF A YEAR OF SERVICE BY THE JUDGE AS A MEMBER OF
THE COURT OF SPECIAL APPEALS.

(2)    THE AMOUNT OF PENSION PAYABLE AFTER JULY 1,

1970,   IS FURTHER INCREASED BY AN AMOUNT EQUAL TO ONE
SIXTH OF THE AMOUNT THAT WOULD BE PAYABLE WITHOUT THIS
INCREASE.

(3)    THE AMOUNT OF PENSION PAYABLE AFTER JULY 1,

1971,  IS ADJUSTED BY A RATIO DETERMINED AS FOLLOWS:

 

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Session Laws, 1974
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