4042

VETOES

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.

(1) (e) Subject to the approval of the board of
trustees, in addition to the contributions deducted from
compensation as hereinbefore provided, any member may redeposit
in the Annuity Savings Fund by a single payment or by an
increased rate of contribution an amount equal to the total
amount which he previously withdrew therefrom as provided in this
article, or any part thereof; or any member may deposit therein
by a single payment or by an increased rate of contribution an
amount computed to be sufficient to purchase an additional
annuity which, together with his prospective retirement
allowance, will provide for him a total retirement allowance not
in excess of two thirds of his average final compensation at the
age of 60 or after 30 years of creditable service, whichever
would first occur. [In addition to the contributions
hereinbefore provided, subject to such conditions as may be
established by the board of trustees, any member may, in
accordance with a contract with his employer, have further
contributions at a fixed percentage of two percent or more, but
not to exceed twenty percent of his compensation made on his
account, either by a reduction in his salary or in lieu of an
increase in his compensation. The cost of administering
annuities qualifying under § 403(b) of the Internal Revenue Code
as amended 'from time to time, shall be provided from the funds
invested in such annuities.] Such additional amounts so
deposited shall become a part of his accumulated contributions
except in the case of retirement, when they shall be treated as
excess contributions returnable to the member in cash or as an
annuity of equivalent actuarial value.

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) (d) In addition to the contributions deducted
from compensation as hereinbefore provided, subject to the
approval of the board of trustees, any member may redeposit in
the Annuity Savings Fund by a single payment or by an increased
rate of contribution an amount equal to the total amount which he
previously withdrew therefrom as provided in this subtitle, or
any part thereof; or any member may deposit therein by a single
payment or by an increased rate of contribution an amount
computed to be sufficient to purchase an additional annuity,
which, together with his prospective retirement allowance, will