BLAIR LEE III, Acting Governor                         1995

Article 88B - State Police
Section 56 (2) (d)
Annotated Code of Maryland
(1969 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be repealed, amended, or enacted to read as follows: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

14.

All of the assets of the retirement system shall be
credited, according to the purpose for which they are held,
to one of three funds, namely the Annuity Savings Fund, the
Accumulation Fund, and the Expense Fund.

(2) (K) THE BOARD OF TRUSTEES, ON THE
RECOMMENDATION OF THE ACTUARY, MAY INCREASE THE NORMAL OR
ACCRUED LIABILITY RATE WHEN NECESSARY TO REFLECT EXPERIENCE
DEFICIENCIES. IF THE ACCRUED LIABILITY IS INCREASED BY
LEGISLATION, THE ACCRUED LIABILITY RATE SHALL BE INCREASED
TO THE EXTENT REQUIRED TO LIQUIDATE THE ADDITIONAL LIABILITY
IN A PERIOD NOT EXCEEDING 40 YEARS.

26.

(G) THE BOARD OF TRUSTEES, ON THE RECOMMENDATION OF
THE ACTUARY, MAY INCREASE THE NORMAL RATE OR THE FLAT ANNUAL
ACCRUED LIABILITY PAYMENT WHEN NECESSARY TO REFLECT
EXPERIENCE DEFICIENCIES. IF THE ACCRUED LIABILITY IS
INCREASED BY LEGISLATION, THE FLAT ANNUAL ACCRUED LIABILITY
PAYMENT SHALL BE INCREASED TO THE EXTENT REQUIRED TO
LIQUIDATE THE ADDITIONAL LIABILITY IN A PERIOD NOT EXCEEDING
30 YEARS.

SECTION 2. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland (as enacted by Chapter

____ of the Acts of the General Assembly of 1978) be

repealed, amended, or enacted to read as follows:

Article 73B - Pensions

89.

All of the assets of the retirement system shall be
credited according to the purpose for which they are held to
one of three funds, namely, the Annuity Savings Fund, the
Accumulation Fund, and the Expense Fund.

(2) (d) Immediately succeeding the valuation as of
[June 30, 19731 JUNE 30, 1976, the actuary engaged by the
board of trustees shall compute the percentage rate of the
total annual compensation of all members which is equivalent
to [5 percent of the amount of] THE LEVEL ANNUAL PAYMENT