146

LAWS OF MARYLAND

Ch. 23

CLASSIFICATIONS FOR AT LEAST 5 YEARS IMMEDIATELY BEFORE
RETIREMENT, SHALL BE COMPUTED AS SPECIFIED IN THIS SECTION.
THE BENEFIT FOR ACCIDENTAL DISABILITY SHALL BE COMPUTED AS
PROVIDED BY § 11(7) OF THIS ARTICLE. IN CASES OF VESTED
RETIREMENT ALLOWANCE AS PROVIDED UNDER § 11(15) OF THIS
ARTICLE, THE BENEFITS PAYABLE TO ANY CORRECTIONAL OFFICER IN
THESE CLASSIFICATIONS WHO HAS SERVED AS A CORRECTIONAL
OFFICER IN ONE OF THESE CLASSIFICATIONS, FOR AT LEAST 5
YEARS IMMEDIATELY BEFORE RETIREMENT, SHALL BEGIN WHEN HE IS
55 YEARS OLD.

(C)   THE BENEFITS PAYABLE ON THE DEATH OF ANY
CORRECTIONAL OFFICER SHALL BE THOSE PROVIDED BY §§ 11(9) AND
11(11)(B) OF THIS ARTICLE. THE OPTIONAL ALLOWANCE PROVIDED
BY § 11(11)(A) OF THIS ARTICLE SHALL BE AVAILABLE TO ANY
CORRECTIONAL OFFICER RETIRING ON A DISABILITY OR SERVICE
RETIREMENT ALLOWANCE.

(D)   THE ADMINISTRATION, MANAGEMENT, AND FUNDING
OF THE BENEFITS FOR CORRECTIONAL OFFICERS SHALL BE THE SAME
AS THOSE PROVIDED BY THE EMPLOYEES' RETIREMENT SYSTEM OF THE
STATE OF MARYLAND.

SECTION 2. AND BE IT FURTHER ENACTED, That section(s)
of the Annotated Code of Maryland be repealed, amended, or
enacted to read as follows:

Article 88B - State Police

55.

(2) "Regular interest" for the Annuity Savings
Fund is defined in Section 49, subsection (12) of this
article. "Regular interest" for the purposes of the
actuarial valuations shall mean such per centum rate or
rates to be compounded annually as shall be determined by
the board of trustees annually after taking into
consideration the actual earnings of the system for the
preceding years and the probable earnings of the system to
be made in the future[; such rates shall be limited to a
minimum of three per centum and a maximum of five per
centum].

As to any member who after June 1> 1958, leaves, and is
no longer in active service as an employee, the rate of
regular interest credited to member's accumulated
contributions from the time of his leaving shall be three
per centum.

56.

(2) [(a) The Accumulation Fund shall be the fund in
which shall be accumulated all reserves for the payment of
all pensions and other benefits payable from contributions
made by the State and from which shall be paid all
retirement allowances and the lump-sum death benefits
payable from said contributions. Contributions to and