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LAWS OF MARYLAND

[Ch. 888

ELIGIBILITY FOR BENEFITS PROVIDED UNDER SECTION 195 OF
THIS ARTICLE FOR OUT-OF-STATE PUBLIC SCHOOL TEACHING
SERVICE, NONPUBLIC SCHOOL TEACHING SERVICE, OR

[[INSTATE]] POST SECONDARY TEACHING SERVICE IN ACCORDANCE
WITH THE FOLLOWING: (A) THE MEMBER SHALL FILE CLAIM FOR
CREDITABLE SERVICE WITH THE BOARD OF TRUSTEES AND SHALL
PAY INTO THE RETIREMENT SYSTEM AN AMOUNT EQUAL TO THE
RESERVES REQUIRED TO FUND THE ADDITIONAL RETIREMENT
ALLOWANCE FOR THE YEARS OF SERVICE CLAIMED, OR (B) AT ANY
TIME AFTER THE DATE OF ENTRY INTO SERVICE IN THE MARYLAND
SCHOOL SYSTEM FROM SERVICE IN A SYSTEM FOR WHICH
CREDITABLE SERVICE IS CLAIMED THE MEMBER MAY MAKE AN
ELECTION TO PURCHASE CREDIT, AND (C) PAY FOR EACH YEAR OF
CREDIT PURCHASED A SUM OF FIVE PERCENT OF CURRENT SALARY
FOR A CONSECUTIVE PERIOD OF FIVE YEARS, AND (D) AT THE
TIME OF RETIREMENT AN ACTUARIAL AUDIT TO DETERMINE THE
TOTAL RESERVES NEEDED TO FUND THE ADDITIONAL RETIREMENT
ALLOWANCE SHALL BE MADE, AND (E) THE MEMBER SHALL PAY ANY
ADDITIONAL SUMS REQUIRED TO FULLY FUND THE NEEDED
RESERVES OR SHALL BE REFUNDED ANY AMOUNTS PAID WHICH ARE
IN EXCESS OF THE RESERVE REQUIRED FOR ADDITIONAL SERVICE
PURCHASED]] A MEMBER MAY RECEIVE CREDIT TOWARDS
ELIGIBILITY FOR BENEFITS PROVIDED UNDER § 195 OF THIS
ARTICLE FOR OUT-OF-STATE PUBLIC SCHOOL TEACHING SERVICE,
NONPUBLIC SCHOOL TEACHING SERVICE OR POST-SECONDARY
TEACHING SERVICE UP TO A MAXIMUM OF TEN YEARS IF THE
MEMBER FILES A CLAIM FOR IT WITH THE BOARD OF TRUSTEES
AND PAYS INTO THE RETIREMENT SYSTEM AN AMOUNT EQUAL TO
THE RESERVES REQUIRED TO FUND THE ADDITIONAL ALLOWANCE
FOR WHATEVER YEARS OF OUT-OF-STATE AND/OR NONPUBLIC
SCHOOL TEACHING SERVICE OR POST-SECONDARY TEACHING
SERVICE AS HE MAY CLAIM. THE MEMBER MAY PAY FOR THE
RESERVES ON AN INSTALLMENT BASIS BY CONTRIBUTING NOT LESS
THAN 5 PERCENT OF CURRENT SALARY A YEAR. THE APPROPRIATE
FINAL ADJUSTMENTS SHALL BE MADE IN THE YEAR IN WHICH THE
MEMBER RETIRES. IN THE EVENT A MEMBER DIES IN ACTIVE
SERVICE WHILE PAYING FOR CREDIT, AND IF THE CREDIT
QUALIFIES FOR BENEFITS UNDER § 195(8)(B), THE SURVIVING
SPOUSE MAY PAY FOR THE APPROPRIATE FINAL ADJUSTMENT FOR
SUCH OUT-OF-STATE OR PUBLIC SCHOOL TEACHING OR
POST-SECONDARY TEACHING SERVICE AS HE MAY HAVE CLAIMED.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved May 15, 1975.

CHAPTER 889
(Senate Bill 642)