MARVIN MANDEL, Governor

3659

(Senate Bill 581)

AN ACT concerning

Pensions—Education — Teacher Retirement

FOR the purpose of providing service credit at the time
of retirement for out—of—state public school
teaching service, nonpublic school teaching service
or [[instate]] post secondary teaching service; and
providing [[for the payment of credit purchased,
actuarial determination of costs, the payment of
additional sums for service credit purchased or the
refunding of excess payments made for service credit
purchased]] payment for reserves on an installment
basis; and providing for a final adjustment to be
made by a surviving spouse in certain instances.

BY repealing and re—enacting, with amendments,

Article 77 — Public Education

Section 194(7)

Annotated Code of Maryland

(1969 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 194(7) 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hereby repealed and re—enacted, with amendments, to read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

194.

(7) [A member may receive in the year in which he
retires credit towards eligibility for benefits provided
under § 19 5 of this article for out—of—state public
school teaching service, nonpublic school teaching
service or instate post—secondary teaching service up to
a maximum of ten years, provided he shall file claim
therefor with the board of trustees and shall pay into
the retirement system, an amount equal to the reserves
required to fund the additional allowance for such years
of out—of—state and/or nonpublic school teaching service
or in—state post—secondary teaching service as he may
claim.]

[[IN THE YEAR IN WHICH HE RETIRES A MEMBER MAY
RECEIVE UP TO A MAXIMUM OF TEN YEARS' CREDIT TOWARD