HARRY HUGHES, Governor 3525

CHAPTER 747

(House Bill 144)

AN ACT concerning

Pensions - Payment of State Contributions

FOR the purpose of providing for the certification of certain
rates, the time when certain charges shall be made to
certain budget appropriations, and the computation of the
charges; providing for the certification of payments to
certain cities and counties; providing for the payment of
employer contributions for members paid by the State and for
members not paid by the State; and generally providing for
the payment of State contributions to various retirement and
pension systems.

BY repealing and reenacting, with amendments,

Article 73B - Pensions

Section 14(4), 16A, 89(4), 122(4), 124, and 150(4)

Annotated Code of Maryland                     

(1983 Replacement Volume and 1984 Supplement)

BY repealing and reenacting, with amendments,

Article 88B - State Police

Section 56(4)

Annotated Code of Maryland

(1979 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

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.

(4) (A) On or before the first day of [November]
DECEMBER next preceding each regular meeting of the General
Assembly of Maryland, the board of trustees shall certify to the
Governor the RATES TO BE USED' IN DETERMINING THE amounts which
will become due and payable during the year next following to
each of the funds of the retirement system. The AGGREGATE amount
thus ascertained shall be included in the budget bill which is
submitted to the General Assembly.