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LAWS OF MARYLAND

Ch. 747

DECEMBER, AND MAY, AND THE 15TH DAY OF APRIL ONE QUARTER OF THE
AMOUNT APPROPRIATED IN THE BUDGET OF THE STATE DEPARTMENT OF
EDUCATION AND THE STATE BOARD FOR COMMUNITY COLLEGES FOR THE
EMPLOYERS' CONTRIBUTIONS TO THIS PENSION SYSTEM. THE COMPTROLLER
SHALL DRAW A WARRANT OR WARRANTS ON THE STATE TREASURER ON OR
BEFORE THE FIRST DAY OF OCTOBER, JANUARY, AND JUNE, AND THE 16TH
DAY OF APRIL FOR THE AMOUNTS CERTIFIED. ON RECEIPT OF THE
WARRANT, THE STATE TREASURER SHALL IMMEDIATELY TRANSFER TO THE
PENSION SYSTEM THE AMOUNTS DUE.

Article 88B - State Police

56.

All of the assets of the retirement system shall be

credited, according to the purpose for which they are held, among

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 RATE 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 amount thus
ascertained shall be included in the budget bill which is
submitted to the General Assembly.

(B) [The board of trustees shall certify one
quarter of the amount so ascertained for each year to the State
Comptroller on or before the last day of December, February, May
and September. The] AS PAYROLLS ARE PAID THE Comptroller shall[,
on or before the first day of January, March, June and October,]
draw a warrant or warrants on the State Treasurer [for the
respective amounts due the retirement system] IN THE AMOUNTS
CHARGED AGAINST THE BUDGETS OF THE VARIOUS STATE AGENCIES FOR THE
EMPLOYERS' CONTRIBUTIONS TO THIS RETIREMENT SYSTEM. On the
receipt of the warrant of the Comptroller, the State Treasurer
shall immediately transfer to the retirement system the amounts
due.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1985.

Approved May 28, 1985.

CHAPTER 748
(House Bill 218)
AN ACT concerning