162

LAWS OF MARYLAND

Ch. 24

(8)   (A) ANY PERSON WHO IS A MEMBER OF THE
RETIREMENT SYSTEM, ESTABLISHED BY THIS SUBTITLE, ON DECEMBER
31, 1979 SHALL CONTINUE TO BE A MEMBER UNLESS ON JANUARY 1,
1980 OR THE FIRST DAY OF ANY MONTH THEREAFTER THROUGH AND
INCLUDING JULY 1, 1980, OR ANY SUBSEQUENT JULY 1, HE BECOMES
A MEMBER OF THE PENSION SYSTEM FOR TEACHERS OF THE STATE OF
MARYLAND BY FILING WITH THE BOARD OF TRUSTEES AT LEAST 90
DAYS BEFORE, ON THE FORM THE BOARD REQUIRES, AN EXECUTED
WAIVER OF ALL BENEFITS WHICH MIGHT INURE TO HIM UNDER THIS
RETIREMENT SYSTEM.

(B) EXCEPT AS HEREINAFTER PROVIDED, ANY PERSON,
WHO IS NOT A MEMBER OF THE RETIREMENT SYSTEM ESTABLISHED
UNDER THIS SUBTITLE ON DECEMBER 31, 1979 OR WHO BECOMES A
TEACHER ON OR AFTER THAT DATE, MAY NOT BE ELIGIBLE FOR
MEMBERSHIP IN THIS RETIREMENT SYSTEM.

(9)  ANY PERSON WHO IS A MEMBER OF THE RETIREMENT
SYSTEM, ESTABLISHED BY THIS SUBTITLE, ON DECEMBER 31, 1979
AND DOES NOT AT ANY TIME ELECT TO BE A MEMBER OF THE PENSION
SYSTEM FOR TEACHERS OF THE STATE OF MARYLAND, SHALL, AS A
CONDITION OF THAT PERSON'S EMPLOYMENT CONTRACT, BE ENTITLED
TO REMAIN A MEMBER OF THE RETIREMENT SYSTEM WITHOUT CHANGE
IN THE BENEFITS PROVIDED IN THE RETIREMENT SYSTEM AS OF
DECEMBER 31, 1979. ANY PERSON RECEIVING BENEFITS UNDER THE
PROVISIONS OF THIS SUBTITLE ON DECEMBER 31, 1979 SHALL
CONTINUE TO RECEIVE THE BENEFITS AS PROVIDED IN THE
RETIREMENT SYSTEM AS OF DECEMBER 31, 1979. THESE BENEFITS
SHALL INCLUDE BUT NOT BE LIMITED TO;

(A)  THE ELIGIBILITY FOR SERVICE RETIREMENT UPON
COMPLETION OF THIRTY YEARS SERVICE OR ATTAINMENT OF AGE 60;

(B)  THE ELIGIBILITY FOR A REDUCED SERVICE
RETIREMENT UPON COMPLETION OF A CERTAIN LENGTH OF SERVICE;

(C)  THE SERVICE RETIREMENT ALLOWANCE OF ONE
FIFTY-FIFTH OF AVERAGE FINAL COMPENSATION;

(D)  THE RETIREMENT ALLOWANCES PROVIDED FOR
ORDINARY OR ACCIDENTAL DISABILITY;

(E)  THE SELECTION OF OPTIONS FOR SERVICE OR
DISABILITY ALLOWANCES;

(F)  THE ADJUSTMENT OF THE RETIREMENT ALLOWANCE
FOR INCREASES IN THE CONSUMER PRICE INDEX;

(G)  THE DEATH BENEFIT;

(H) THE LEVEL OF CONTRIBUTIONS FROM MEMBERS; AND

(I) THE LENGTH OF SERVICE FOR MEMBERS TO VEST
BENEFITS IN THE SYSTEM.

88.