78

LAWS OF MARYLAND

Ch. 23

retires on a retirement allowance in the system to which he
transferred within five years after the transfer, the
benefits payable with respect to the service credit in the
system from which the transfer was made shall not be greater
than those which would have been payable with respect to
such service, had he remained in such system[; except that
any member who transfers between the Employees' Retirement
System of the State of Maryland and the Teachers' Retirement
System of the State of Maryland shall pay that rate of
contribution for his attained age at the time of his
original enrollment which was in effect at the time of his
enrollment in the system to which he is transferring; but if
such member had enrolled in the Teachers' Retirement System
prior to July 1, 1947, and is transferring from the
Teachers' Retirement System of the State of Maryland to the
Employees' Retirement System of the State of Maryland, he
shall pay at the rates adopted by the board of trustees of
the Employees' Retirement System of the State of Maryland on
July 1, 1947].

46.

(a)   Three persons as provided hereinbelow shall be
members of and shall constitute the advisory investment
committee for the board of trustees of the Employees'
Retirement System of the State of Maryland, AND THE BOARD OF
TRUSTEES OF THE PENSION SYSTEM FOR THE EMPLOYEES OF THE
STATE OF MARYLAND, and [for] the board of trustees of the
Teachers' Retirement System of the State of Maryland, AND
THE BOARD OF TRUSTEES OF THE PENSION SYSTEM FOR THE TEACHERS
OF THE STATE OF MARYLAND, and [for] the board of trustees of
the State Police Retirement System of the State of Maryland.
The said three persons shall be appointed by the Board of
Public Works. The initial appointments shall date from
July 1, 1958 and shall be for terms of one, two and three
years respectively, as designated by the Board of Public
Works or until their successors have been appointed and have
qualified. Thereafter appointments shall be made for terms
of four years, or until their successors have been appointed
and have qualified. A person may be appointed to
successive or additional terms. Vacancies shall be filled
by the Board of Public Works for any unexpired term in the
manner that the initial and successive appointments are to
be made. The committee shall select one of its members who
shall be the chairman.

57.

(b)   (1) Each judge covered by the plan shall
contribute to the fund an amount equal to six percent of his
compensation, to be deducted from his compensation each pay
period until he has served as a judge for 16 years. He
shall make no contribution thereafter.

(2) THE FUND SHALL BE THE FUND IN WHICH ALL
RESERVES FOR THE PAYMENT OF ALL ALLOWANCES AND OTHER
BENEFITS SHALL BE ACCUMULATED AND FROM WHICH SHALL BE PAID