3292

LANS OF MARYLAND

[Ch. 751

ON THE VALUE OF THE BALANCE IN HIS OR HER RESERVES AT THE
TIME THE CHANGE IN BENEFICIARY IS MADE.

SECTION 2. AND BE IF FURTHER ENACTED, That Section
195(6) of Article 77 — Public Education, of the Annotated
Code of Maryland (1969 Replacement Volume and 1974
Supplement) be and it is hereby repealed and re—enacted,
with amendments, to read as follows:

Article 77 — Public Education

195.

(6) (a) Upon the receipt of proper proofs of the
death of a member in service, and provided that no
benefit is payable under the provisions of Section 195
(8)(b) of this article, there shall be paid to the
member's estate or to [such] THE person [as] he [shall
have] HAS nominated by written designation duly executed
and filed with the board of trustees:

(i) The member's accumulated contributions;
and

(ii) If the member has one or more years of
creditable service, and amount equal to the member's
annual earnable compensation at the time of his death.

(b) The board of trustees is authorized to take
such steps as are necessary to provide the death benefit
under this subsection in the form of group life
insurance, if in the opinion of the board of trustees,
such provision would allow a more favorable tax treatment
of the benefit to the beneficiaries there.

(C) [[A MEMBER MAY AT ANY TIME CHANGE HIS
BENEFICIARY OR BENEFICIARIES.]] A RETIRED MEMBER MAY
ELECT TO CHANGE HIS OR HER BENEFICIARY, IN WHICH EVENT,
THE ALLOWANCE FOR A SUBSEQUENT ELECTION SHALL BE COMPUTED
ON THE VALUE OF THE BALANCE IN HIS OR HER RESERVES AT THE
TIME THE CHANGE IN BENEFICIARY IS MADE.

SECTION 3. AND BE IT FURTHER ENACTED, That Section
53(8) of Article 88B - State Police, of the Annotated
Code of Maryland (1969 Replacement Volume and 1974
Supplement) be and it is hereby repealed and re—enacted,
with amendments, to read as follows:

Article 88B - State Police

53.