560

LAWS OF MARYLAND

Ch. 22

NEEDS OF THE STAFF MEMBERS AND THE INTERESTS OF THE
INSTITUTIONS IN THE RECRUITMENT AND RETENTION OF STAFF
MEMBERS; AND

(4) THE ABILITY OF THE DESIGNATED COMPANY TO PROVIDE
FOR SUITABLE RIGHTS AND BENEFITS UNDER THE CONTRACTS.

(H) A GOVERNING BOARD ADOPTING AN OPTIONAL RETIREMENT
PROGRAM MAY PROVIDE FOR THE ADMINISTRATION OF THE SYSTEM AND
MAY AUTHORIZE THE PERFORMANCE OF WHATEVER FUNCTIONS AS MAY
BE NECESSARY FOR THOSE PURPOSES.

(I) ANY ELIGIBLE EMPLOYEE ELECTING TO PARTICIPATE IN AN
OPTIONAL RETIREMENT PROGRAM SHALL BE INELIGIBLE FOR
MEMBERSHIP IN THE TEACHERS' RETIREMENT SYSTEM OF THE STATE
OF MARYLAND SO LONG AS HE OR SHE IS EMPLOYED IN ANY ELIGIBLE
POSITION BY THE EMPLOYING INSTITUTION OR BY ANY OTHER
INSTITUTION ESTABLISHING AN OPTIONAL RETIREMENT PROGRAM
PURSUANT TO THIS SECTION. THE EMPLOYEE SHALL PARTICIPATE IN
THE OPTIONAL RETIREMENT PROGRAM OF THAT INSTITUTION.

(J) NO RETIREMENT, DEATH OR OTHER BENEFIT UNDER AN
OPTIONAL RETIREMENT PROGRAM SHALL BE PAYABLE BY THE STATE OF
MARYLAND OR THE GOVERNING BOARD OF THE EMPLOYING
INSTITUTION. BENEFITS SHALL BE PAYABLE TO PARTICIPANTS OR
THEIR BENEFICIARIES ONLY BY THE DESIGNATED COMPANY IN
ACCORDANCE WITH THE TERMS OF THE CONTRACTS.

REVISOR'S NOTE: This section presently appears as Art.
77, §217.

References to the "Board of Trustees of the State
Universities and Colleges" is substituted for the
present "Board of Trustees of State Colleges",
and reference to the "State Board for Higher
Education" is substituted for the present
"Maryland Council tor higher education". These
changes reflect current agency nomenclature.

Cross references to Art. 77A are changed to refer
to the appropriate provisions of the Education
Article.

The only other changes are in style and
punctuation.

SECTION 5. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland be repealed, amended, or

enacted to read as follows:

(A) GENERAL REQUIREMENTS.

(1) EXCEPT AS OTHERWISE PROVIDED, THE NOMINATION

Article 33 -- Election Code

4-2.