HARRY HUGHES, Governor

1739

(1) Eligible employees initially appointed on or
after the effective date of the establishment of an optional
retirement program shall elect (i) to join the Teachers'
Retirement System of the State of Maryland or on or after
January 1, 1980 the Pension System for the Teachers of the
State of Maryland in accordance with the provisions of law
applicable thereto or (ii) to participate in the optional
retirement program established pursuant to this section.
This election shall be in writing and filed with the
Teachers' Retirement System or on or after January 1, 1980
the Pension System for the Teachers of the State of Maryland
and with the employing institution [and shall be effective
as of the date of entry into service].

(2)[(i)] Eligible employees initially
appointed prior to the effective date of the establishment
of an optional retirement program[, within a period of time
prescribed by the employing institution which shall not
exceed 80 days from the effective date,] may elect to
participate in the optional retirement program. The
election shall be in writing and filed with the Teachers'
Retirement System OR THE PENSION SYSTEM FOR THE TEACHERS OF
THE STATE OF MARYLAND and with the employing institution AT
LEAST 90 DAYS BEFORE. and shall become effective on the
first day of July coinciding with or next following the date
of the election and THE ELECTION shall constitute a waiver
of all rights and benefits provided by the Teachers'
Retirement System, except as otherwise provided.

(II) ELIGIBLE EMPLOYEES WHO HAVE NOT
ELECTED TO TRANSFER TO THE PENSION SYSTEM FOR EMPLOYEES OF
THE STATE OF MARYLAND OR THE PENSION SYSTEM FOR TEACHERS OF
THE STATE OF MARYLAND BY JULY 1, 1981, MAY NOT SO TRANSFER
AND THEREAFTER ELECT TO PARTICIPATE IN THE OPTIONAL
RETIREMENT PROGRAM.

[(ii) Eligible employees initially
appointed before the effective date of the establishment of
an optional retirement program who did not elect to
participate in the optional retirement program, on or after
January 1, 1980, may transfer from the Teachers' Retirement
System to the Pension System for Teachers of the State of
Maryland. Eligible employees initially appointed before the
effective date of the establishment of an optional program
who elect to transfer from the Teachers' Retirement System
to the Pension System for the Teachers of the State of
Maryland may not transfer to an optional retirement
program.]

"(f) Any eligible employee who is a member of the
Teachers' Retirement System or the Pension System for the
Teachers of the State of Maryland at the time he elects to
participate in an optional retirement program established
pursuant to this section shall be deemed to be a person who
discontinues service in the Teachers' Retirement System or
the Pension System for the Teachers on the effective date of