1306

LAWS OF MARYLAND

Ch. 290

(2) NOTWITHSTANDING THE PROVISIONS OF SUBSECTION
(C)(1) OF THIS SECTION, IF A BENEFICIARY, RETIRED FROM STATE
SERVICE, IS IN RECEIPT OF A STATE DISABILITY RETIREMENT
ALLOWANCE, THE BENEFICIARY AND THEIR DESIGNATED BENEFICIARIES MAY
RECEIVE THE SAME SUBSIDY THAT IS PROVIDED TO A STATE EMPLOYEE.

(D) THE BENEFICIARY AND THEIR DESIGNATED BENEFICIARIES
SHALL PAY THE PART OF THE COST OF THE PROGRAM THAT IS NOT
PROVIDED FOR UNDER SUBSECTION (C) OF THIS SECTION.

48C.

(A)  AN ELIGIBLE EMPLOYEE WHO HAS RETIRED FROM JULY 1, 1984
UNDER ARTICLE 73B, § 110 OF THE CODE MAY PARTICIPATE IN THE STATE
EMPLOYEES HEALTH INSURANCE PROGRAM AS PROVIDED BY THIS SECTION.

(B)  THE SUBSIDY PROVIDED BY THE PROGRAM, PRORATED IN
ACCORDANCE WITH SECTION 48B OF THIS ARTICLE, IS AVAILABLE:

(1)  AT THE TIME OF RETIREMENT TO AN ELIGIBLE EMPLOYEE
WHO WAS IN SERVICE WITH A STATE INSTITUTION; AND

(2)  ON THE BASIS OF AN INDIVIDUAL TYPE OF HEALTH
INSURANCE COVERAGE.

(C)  THE SPOUSE OR THE CHILDREN OF AN ELIGIBLE EMPLOYEE WHO
IS PARTICIPATING IN THE PROGRAM UNDER THIS SECTION MAY
PARTICIPATE IN THE PROGRAM UPON PAYMENT BY THE ELIGIBLE EMPLOYEE
OF ALL COSTS FOR THE COVERAGE FOR THE SPOUSE OR CHILDREN.

Article 73B - Pensions

14.

All of the assets of the retirement system shall be
credited, according to the purpose for which they are held, to
one of three funds, namely the Annuity Savings Fund, the
Accumulation Fund, and the Expense Fund.

(2) (a) The Accumulation Fund shall be the fund in
which shall be accumulated all reserves for the payment of all
allowances and other benefits payable from contributions made by
the State, amounts transferred from the Annuity Savings Fund, and
from which shall be paid all benefits payable under the system
other than those payable from the Annuity Savings Fund.

[(b) Each year, on account of each member, the
State shall pay into the Accumulation Fund an amount at least
equal to a certain percentage of the annual earnable compensation
of the member, to be known as the "normal contribution," and an
additional amount equal to a certain percentage of his annual
earnable compensation, to be known as the "accrued liability
contribution." The rates percent of these contributions shall be
fixed on the basis of the liabilities of the retirement system by
actuarial valuation.]