134                                       LAWS OF MARYLAND                                 Ch. 23

(14)  ANY MEMBER WHOSE SERVICE IS TERMINATED OTHER THAN
BY DEATH OR RETIREMENT AFTER HE HAS RENDERED 5 OR MORE YEARS
OF ELIGIBILITY SERVICE SHALL BE ELIGIBLE TO RECEIVE A VESTED
RETIREMENT ALLOWANCE. THE VESTED RETIREMENT ALLOWANCE SHALL
BE A DEFERRED ALLOWANCE THAT BEGINS AT AGE 62 AND SHALL BE
COMPUTED AS A SERVICE RETIREMENT ALLOWANCE AS PROVIDED UNDER
SUBSECTION (2) OF THIS SECTION ON THE BASIS OF THE MEMBER'S
AVERAGE FINAL COMPENSATION AND CREDITABLE SERVICE AT THE
TIME HIS SERVICE IS TERMINATED.

IF, ON THE DATE OF HIS TERMINATION, THE MEMBER HAS
COMPLETED 15 YEARS OF ELIGIBILITY SERVICE BUT HAS NOT
REACHED AGE 55, WHEN HE BECOMES 55 YEARS OLD, HE SHALL BE
ELIGIBLE TO RECEIVE A VESTED RETIREMENT ALLOWANCE, THAT
BEGINS ON THE FIRST DAY OF THE MONTH NEXT FOLLOWING, IN A
REDUCED AMOUNT WHICH SHALL BE OF EQUIVALENT ACTUARIAL VALUE
TO THE DEFERRED ALLOWANCE THAT BEGINS AT AGE 62.

IF A MEMBER WHO IS ELIGIBLE FOR A VESTED RETIREMENT
ALLOWANCE REQUESTS THE RETURN OF HIS CONTRIBUTIONS, THE
AMOUNT OF HIS ACCUMULATED CONTRIBUTIONS SHALL BE RETURNED
AND, WHEN HE BECOMES 62 YEARS OLD OR ANY EARLIER DATE AS
PROVIDED IN THIS SUBSECTION, HE SHALL RECEIVE A BENEFIT
EQUAL TO THE STATE PROVIDED PART OF HIS VESTED RETIREMENT
ALLOWANCE.

IF THE MEMBER DIES BEFORE THE DATE WHEN THE FIRST
PAYMENT OF HIS VESTED RETIREMENT ALLOWANCE NORMALLY BECOMES
DUE, THE AMOUNT OF HIS ACCUMULATED CONTRIBUTIONS SHALL BE
PAYABLE TO HIS PERSONAL REPRESENTATIVE OR TO THE PERSON THE
MEMBER HAS NOMINATED BY WRITTEN DESIGNATION, EXECUTED AND
FILED WITH THE BOARD OF TRUSTEES.

(15)  NOTWITHSTANDING ANY OTHER PROVISION OF THIS
SUBTITLE, ANY PERSON RETIRED FROM MEMBERSHIP IN THIS PENSION
SYSTEM MAY ELECT TO HAVE THE PREMIUM, OR ANY PART OF IT, FOR
STATE-APPROVED MEDICAL INSURANCE FOR RETIRED STATE TEACHERS
OR FOR INSURANCE AUTHORIZED BY EMPLOYEES' ORGANIZATIONS,
DUES OF EMPLOYEES' ORGANIZATIONS AND PAYMENTS TO THE STATE
EMPLOYEES' CREDIT UNION OF MARYLAND, INC., DEDUCTED FROM HIS
ALLOWANCE BY THIS PENSION SYSTEM AND PAID ON HIS BEHALF TO
THE CARRIER.

(16)  NOTWITHSTANDING ANY OTHER PROVISION OF THIS
SUBTITLE, ANY PERSON WHO RECEIVES HIS RETIREMENT ALLOWANCE
THROUGH THIS PENSION SYSTEM MAY ELECT TO HAVE THE PREMIUM,
OR ANY PART OF IT, FOR LOCALLY APPROVED MEDICAL INSURANCE
PARTICIPATED IN BY ANY COUNTY FOR TEACHERS RETIRED FROM
EMPLOYMENT BY ANY COUNTY, DEDUCTED FROM HIS ALLOWANCE BY
THIS PENSION SYSTEM AND RETURNED TO THE APPROPRIATE
JURISDICTION FOR PAYMENT ON HIS BEHALF TO THE CARRIER.
HOWEVER, NEITHER THIS PENSION SYSTEM OR INSTRUMENTALITY
SHALL BE OTHERWISE RESPONSIBLE FOR THE PAYMENT OF ANY PART
OF THE PREMIUM FOR THE MEDICAL INSURANCE APPROVED BY ANY
COUNTY.