HARRY HUGHES, Governor

195

SUBSECTION TO THE STATE COMPTROLLER ON OR BEFORE THE LAST
DAY OF DECEMBER, FEBRUARY, MAY, AND SEPTEMBER. ON OR BEFORE
THE FIRST DAY OF JANUARY, MARCH, JUNE, AND OCTOBER, THE
COMPTROLLER SHALL DRAW A WARRANT ON THE STATE TREASURER FOR
THE RESPECTIVE AMOUNTS DUE THIS PENSION SYSTEM. ON RECEIPT
OF THE WARRANT OF THE COMPTROLLER, THE STATE TREASURER
IMMEDIATELY SHALL TRANSFER TO THIS PENSION SYSTEM THE
AMOUNTS DUE.

123. GUARANTY.

THE CREATION AND MAINTENANCE OF RESERVES IN THE
ACCUMULATION FUND, REGULAR INTEREST CREDITABLE TO THE FUNDS
AS PROVIDED IN § 122 OF THIS SUBTITLE, THE PAYMENT OF ALL
RETIREMENT ALLOWANCES, REFUNDS, AND OTHER BENEFITS GRANTED
UNDER THIS SUBTITLE, AND ALL EXPENSES IN CONNECTION WITH THE
ADMINISTRATION AND OPERATION OF THIS PENSION SYSTEM ARE
OBLIGATIONS OF THE STATE. ALL INCOME, INTEREST, AND
DIVIDENDS DERIVED FROM DEPOSITS AND INVESTMENTS AUTHORIZED
BY THIS SUBTITLE SHALL BE USED TO PAY THESE OBLIGATIONS OF
THE STATE.

124. COMPUTATION OF EMPLOYER'S CONTRIBUTIONS WHICH ARE
CHARGEABLE TO FUNDS OTHER THAN GENERAL FUNDS.

THE COMPTROLLER OF THE TREASURY SHALL COMPUTE FOR EVERY
DEPARTMENT, BOARD, BUREAU, COMMISSION, OR OTHER AGENCY OF
THE STATE GOVERNMENT WHICH IS SUPPORTED IN WHOLE OR IN PART
BY FUNDS OTHER THAN GENERAL FUNDS THE AMOUNT THAT THE
DEPARTMENT, BOARD, BUREAU, COMMISSION, OR OTHER AGENCY SHALL
PAY AS THE EMPLOYER'S SHARE OF EMPLOYEE PENSION COST THAT IS
CHARGEABLE TO THE FUNDS OTHER THAN GENERAL FUNDS OF THE
AGENCY. THE COMPTROLLER SHALL MAKE THIS COMPUTATION USING
THE TOTAL RATE OF CONTRIBUTIONS AS SET BY THE ACTUARY OF
THIS PENSION SYSTEM FOR THE GENERAL FUND PAYMENTS BY THE
STATE TO THIS PENSION SYSTEM. CONTRIBUTIONS FOR RETIREMENT
FROM ALL FUNDS SHALL BE CALCULATED AND PAID ON THE SAME
BASIS AND AT THE SAME RATE.

125. EXEMPTION FROM EXECUTION.

THE RIGHT OF A PERSON TO A RETIREMENT ALLOWANCE, THE
RETURN OF CONTRIBUTIONS, ANY OPTIONAL BENEFIT OR DEATH
BENEFIT, OR ANY OTHER RIGHT ACCRUED OR ACCRUING TO ANY
PERSON UNDER THIS SUBTITLE, AND THE MONEY IN THE VARIOUS
FUNDS CREATED BY THIS SUBTITLE, MAY NOT BE SUBJECT TO
EXECUTION, GARNISHMENT, ATTACHMENT, OR ANY OTHER PROCESS,
AND SHALL BE UNASSIGNABLE EXCEPT AS THIS SUBTITLE
SPECIFICALLY PROVIDES.

126. PROTECTION AGAINST FRAUD.

ANY PERSON WHO KNOWINGLY MAKES ANY FALSE STATEMENT OR
FALSIFIES OR PERMITS TO BE FALSIFIED ANY RECORD OF THIS
PENSION SYSTEM IN ANY ATTEMPT TO DEFRAUD THIS SYSTEM IS
GUILTY OF A MISDEMEANOR, AND SHALL BE PUNISHABLE UNDER THE
LAWS OF THE STATE OF MARYLAND. IF ANY CHANGE OR ERROR IN