2214

LAWS OF MARYLAND

Ch. 309

each year of service as a member. Such proportion of
compensation shall be computed to remain constant.

However, commencing as of July 1, 1973, the proportion of
compensation payable by any member as of June 30, 1973 shall be
the lesser of (i) the proportion so determined or (ii) [five per
centum] 5 PERCENT of his earnable compensation, and the
proportion of compensation payable by any person who becomes a
member after June 30, 1973 shall be [five per centum] 5 PERCENT
of his earnable compensation. ANY MEMBER WHO QUALIFIES ELECTS
UNDER § 9(D) 9(2)(D) OF THIS ARTICLE FOR A FULL SERVICE CREDIT
FOR REGULAR PART-TIME SERVICE IN THE COMPUTATION OF THE
RETIREMENT ALLOWANCE OR BENEFIT SHALL CONTRIBUTE 5 PERCENT OF THE
COMPENSATION THE MEMBER WOULD HAVE EARNED HAD THE MEMBER BEEN A
FULL-TIME EMPLOYEE DURING THE PERIOD OF DISABILITY.

85.

(2) The board of trustees shall fix and determine by
appropriate rules and regulations how much service in any year is
equivalent to one year of service, but except as otherwise
provided, in no case shall more than one year of service be
creditable for all service in one calendar year.

(c) (I) A member shall be allowed a full year of
service credit for each calendar year of regular part-time
employment to establish eligibility for any type of retirement or
benefit. However, the actual time served shall be used in the
computation of the retirement allowance or benefit[.] EXCEPT WHEN
THE PART-TIME SERVICE IS DETERMINED BY THE MEDICAL BOARD TO BE A
RESULT OF A MEDICALLY DETERMINED DISABILITY WHICH PREVENTS
FULL-TIME WORK AND THE MEMBER ELECTS TO MAKE THE CONTRIBUTIONS
FOR FULL-TIME EMPLOYMENT REQUIRED BY § 89(1)(A) OF THIS ARTICLE.

(II) IF AT THE TIME THE MEDICAL BOARD MAKES
THIS DETERMINATION THE MEMBER ELECTS TO MAKE THE CONTRIBUTIONS
FOR FULL-TIME EMPLOYMENT REQUIRED BY § 89(1)(A) OF THIS ARTICLE,
THE MEMBER SHALL RECEIVE FULL SERVICE CREDIT FOR THE PART-TIME
SERVICE IN THE COMPUTATION OF THE RETIREMENT ALLOWANCE OR
BENEFIT. FULL SERVICE CREDIT FOR PURPOSES OF COMPUTING THE
RETIREMENT ALLOWANCE OR BENEFIT, HOWEVER, MAY NOT BE GRANTED FOR
A DISABILITY INCURRED PRIOR TO THE MEMBER'S ENROLLMENT IN THE
RETIREMENT SYSTEM, EXCEPT TO THE EXTENT THAT THIS DISABILITY WAS
AGGRAVATED SUBSEQUENT TO THE MEMBER'S ENROLLMENT.

89.

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.

(1) (a) The Annuity Savings Fund shall be a fund in which
shall be accumulated contributions from the compensation of
members to provide for their annuities. Upon the basis of such