864                                      LAWS OF MARYLAND                              Ch. 302

Approved May 4, 1976.

CHAPTER 303
(Senate Bill 547)

AN ACT concerning

Retirement Credit for Masters

FOR the purpose of permitting a judge or retired judge to
purchase retirement credit in the Judicial Pension
Plan for full—time service as a Master in Chancery
or a Master in Juvenile Causes before a certain
date; and prohibiting credit for service so
purchased in another retirement plan of the State or
a political subdivision.

BY adding to

Article 73B — Pensions

Section 57(o)

Annotated Code of Maryland

(1970 Replacement Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 57(o) be and it is hereby
added to Article 73B — Pensions, of the Annotated Code of
Maryland (1970 Replacement Volume and 1975 Supplement) to
read as follows:

Article 73B - Pensions

57.

(0)         A JUDGE OTHERWISE ELIGIBLE FOR PARTICIPATION

IN THE CONTRIBUTORY PLAN MAY OBTAIN CREDIT FOR PRIOR
FULL-TIME SERVICE AS A MASTER IN CHANCERY OR MASTER IN
JUVENILE CAUSES.        TO OBTAIN CREDIT, THE JUDGE SHALL PAY

TO THE FUND AN AMOUNT EQUAL TO 6 PERCENT OF THE AMOUNT
RECEIVED IN COMPENSATION FOR THAT FULL-TIME SERVICE
BEFORE JULY 1, 1975 PLUS INTEREST AT 4 PERCENT.        PAYMENT

SHALL BE MADE IN A LUMP SUM PAYMENT. SERVICE FOR WHICH
CREDIT IS PURCHASED UNDER THIS PLAN MAY NOT BE USED AS
CREDIT FOR SERVICE IN ANOTHER RETIREMENT FUND OF THE
STATE OR A POLITICAL SUBDIVISION.         A JUDGE OTHERWISE

ELIGIBLE WHO RETIRES AFTER JUNE 30, 1975 IS ELIGIBLE TO
PURCHASE CREDIT UNDER THIS SUBSECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.