2704

LAWS OF MARYLAND

[Ch. 556

pensions, or parts thereof, provided for the pensioners,

(C)    Notwithstanding anything to the contrary, the
retirement system shall not be liable for the payment of
any pensions or other benefits on account of the faculty
of the College, for which reserves have not been
previously created from funds contributed by [such] THE
College or its members for [such] THOSE benefits.

(D)    IN THE EVENT THE BOARD OF TRUSTEES OF THE
STATE COLLEGES ADOPTS AN OPTIONAL RETIREMENT PROGRAM AS
PROVIDED IN SECTION 217 OF THIS ARTICLE, THOSE ELIGIBLE
EMPLOYEES OF MORGAN STATE COLLEGE WHO ELECTED TO
PARTICIPATE IN THE OPTIONAL RETIREMENT PROGRAM SHALL NOT
PARTICIPATE IN THE TEACHERS' RETIREMENT SYSTEM FOR ANY
PERIOD IN WHICH THEY PARTICIPATE IN THE OPTIONAL
RETIREMENT PROGRAM. THEY SHALL BE ENTITLED TO NO
BENEFITS FROM THE TEACHERS' RETIREMENT SYSTEM EXCEPT WITH
RESPECT TO CONTRIBUTIONS THERETOFORE MADE AS PROVIDED IN
SECTION 217 OF THIS ARTICLE,

SECTION 2. AND BE IT FURTHER ENACTED, That new
Section 217 to be under the new subtitle "Optional
Retirement Programs" be and it is hereby added to Article
77 — Public Education, of the Annotated Code of Maryland
(1969 Replacement Volume and 1974 Supplement) to read as
follows:

Article 77 — Public Education

OPTIONAL RETIREMENT PROGRAMS

217.

(A) THE OPTIONAL RETIREMENT PROGRAM PROVIDED FOP
IN THIS SECTION MAY BE ADOPTED BY ANY OF THE FOLLOWING
BOARDS WITH RESPECT TO THE INSTITUTION OR INSTITUTIONS
GOVERNED BY THAT BOARD OR WITH RESPECT TO THAT BOARD'S
OWN STAFF:

MARYLAND,

(1) BOARD OF REGENTS OF THE UNIVERSITY OF

(2) BOARD OF TRUSTEES OF THE STATE COLLEGES,

(3) BOARD OF TRUSTEES OF ST. MARY'S COLLEGE
OF MARYLAND,

(4)    STATE BOARD FOR COMMUNITY COLLEGES WITH
RESPECT TO ANY COMMUNITY COLLEGE OR REGIONAL COMMUNITY
COLLEGE ESTABLISHED PURSUANT TO SECTION 1(A) OR SECTION
2(A) OF ARTICLE 77A OF THIS CODE, AND