860

LAWS OF MARYLAND

Ch. 255

position with the State, local school system, library, community
college or a participating municipal corporation, the members'
retirement shall be canceled and:

(i) The retirement allowance payments shall
terminate after the last day of the month preceding the date of
return to active service and the individual shall become a member
of the [Employee's] EMPLOYEES' Retirement System of the State of
Maryland, or the Teachers' Retirement System of the State of
Maryland as applicable to the position.

88.

(2) Annuity Savings Fund is [defined in § 81, subsection
(12) of this subtitle] CREATED IN § 89, SUBSECTION (A) OF THIS
SUBTITLE. "Regular interest" for the purpose of the actuarial
valuations shall mean such percentage rate or rates to be
compounded annually as shall be determined by the board of
trustees annually after taking into consideration the actual
interest earnings of the system for the preceding years and the
probable earnings of the system to be made in the future.

102.

(1)  The professional and clerical employees of any library
established or operating under the provisions of Title 23 of the
Education Article are included in the definition of "teacher" and
"member," as those terms are defined respectively in
[subsections] PARAGRAPHS (3) and (4) of 81 of this subtitle, and
all such professional and clerical employees are entitled to all
the rights and privileges and subject to all of the obligations
of the Teachers' Retirement System as established and maintained
under this subtitle except as provided in [paragraph] SUBSECTION
(4) of this section; provided, however, that each professional
and clerical employee of the department of public libraries of
Montgomery County who is covered under the Teachers' Retirement
System may elect to transfer to the employees' retirement system
of Montgomery County; and any such employee may elect to
subsequently transfer to the Employees' Retirement System of the
State of Maryland, other State retirement system, or the
retirement system of a municipality or legislative body of the
State of Maryland which is being operated on an actuarial basis
with contributions being made during the active service of new
members which are computed to be sufficient to provide the
reserves needed to cover the retirement benefits payable on their
account.

(2)  The professional and clerical employees of the Enoch
Pratt Free Library of Baltimore City, except for employees
described in [paragraph] SUBSECTION (4) of this section, are
included in the definition of "teacher" as that term is defined
in [subsection] PARAGRAPH (3) of § 81 of this subtitle for and in
connection with any and all of the terms and provisions of 89(4)
of this subtitle.