2708

LAWS OF MARYLAND

[Ch. 556

INSTITUTION. BENEFITS SHALL BE PAYABLE TO PARTICIPANTS
OR THEIR BENEFICIARIES ONLY BY THE DESIGNATED COMPANY IN
ACCORDANCE WITH THE TERRS OF THE CONTRACTS.

SECTION 3. AND BE IT FURTHER ENACTED, That Sections
5(b), 12(c) and 29(b) of Article 77A - Higher Education,
of the Annotated Code of Maryland (1969 Replacement
Volume and 1974 Supplement) be and they are hereby
repealed and re—enacted, with amendments, to read as
follows:

Article 77A — Higher Education

5.

(b)   All professional [[and clerical]] employees are
eligible for [participation] AND SHALL PARTICIPATE in the
Teachers' Retirement System as established and maintained
under [this article] ARTICLE 77 OF THIS CODE OR THE
OPTIONAL RETIREMENT PROGRAM IF ADOPTED BY THE BOARD AS
PROVIDED IN SECTION 217 OF ARTICLE 77 OF THIS CODE.
CLERICAL EMPLOYEES ARE ELIGIBLE FOR AND SHALL PARTICIPATE
IS THE TEACHERS' RETIREMENT SYSTEM AS ESTABLISHED AND
MAINTAINED UNDER ARTICLE 77 OF THIS CODE.

12.

(c)    The board shall appoint a qualified person as
executive director who shall serve at the pleasure of the
board and receive [such] WHATEVER salary as is provided
in the budget. The executive director shall be the chief
administrative officer of the board; he shall keep a
record of all meetings of the board, maintain and
preserve all books, records and papers of the board, and
perform [such] WHATEVER other duties [as] the board may
prescribe. The board shall also appoint at the
recommendation of the executive director [such] WHATEVER
other staff members as may be necessary to carry out the
duties of the board. The employees of the board, with
the exception of the executive director and professional
employees who shall not be included in the classified
service, shall be subject to the provisions of Article
64A of this Code, title "Merit System." The executive
director and all professional and clerical employees of
the board shall be eligible for membership in and shall
become members of the Teachers' Retirement System of the
State of Maryland or the Employees' Retirement System of
the State of Maryland. HOWEVER, ALL EMPLOYEES HOLDING
PROFESSIONAL POSITIONS AS DETERMINED PURSUANT TO
SUBSECTION (D) OF THIS SECTION MAY, IN LIEU OF THIS
MEMBERSHIP, BECOME MEMBERS OF AN OPTIONAL RETIREMENT
PROGRAM PROVIDED FOR IN SECTION 217 OF ARTICLE 77 OF THIS
CODE.