1642                                       LAWS OF MARYLAND                                 Ch. 476

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 477

(Senate Bill 567)

AN ACT concerning

Pensions - Former Members

FOR the purpose of repealing certain provisions relating to
pensions payable to former employees retired before
establishment of the Employees' Retirement System.

BY repealing

Article 73B - Pensions

Section 15

Annotated Code of Maryland

(1970 Replacement Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 73B — Pensions

[15.

All pensions payable to former employees retired under
the provisions of this article and in force on the date this
system is established shall be continued and paid hereafter
from the Accumulation Fund at the full amounts stipulated
under said article. The residue of any appropriation made
for the payment of such pension shall be transferred and
credited to the Accumulation Fund. Any additional amounts
required to continue such pensions shall be provided by an
increase in the accrued liability contribution otherwise
payable to the Accumulation Fund. ]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 16, 1978.

CHAPTER 478