Ch. 236                                     1993 LAWS OF MARYLAND

(iv) 2. Option 4 — Special. If a retiree has elected this option, some
other benefit or benefits shall be paid either to the retiree or on the death of the retiree
to the retiree's designated beneficiary or beneficiaries, if the other benefit or benefits
together with the reduced allowance:

A.      Are [certified by the actuary to be] of equivalent actuarial
value to the retiree's allowance; and

B.      Approved by the Board of Trustees;
5-409.

(b)     (2) The options that a member may elect under subsection (a) of this section
are:

(iv) 2. Option 4 — Special. If a retiree has elected this option,
some other benefit shall be paid either to the retiree or on the death of the retiree to the
retiree's designated beneficiary, if the other benefit together with the reduced allowance,
[is certified by the actuary to be] ARE of equivalent actuarial value to the retiree's
allowance, and is approved by the Board of Trustees;

6-406.

(c)     (2) The options that a member may elect under subsection (b) of this
section are:

(iv) 2. Option 4 — Special. If a retiree has elected this option,
some other benefit or benefits shall be paid either to the retiree or on the death of the
retiree to the retiree's designated beneficiary or beneficiaries if the other benefit or
benefits, together with the reduced allowance, are [certified by the actuary to be] of
equivalent actuarial value to the retiree's allowance, and are approved by the Board of
Trustees;

7-407.

(b)     (2) The options that a member may elect under subsection (a) of this section
are:

(iv) 2. Option 4 — Special. If a retiree has elected this option,
some other benefit or benefits shall be paid either to the retiree or on the death of the
retiree to the retiree's designated beneficiary or beneficiaries, if the other benefit or
benefits, together with the reduced allowance, are [certified by the actuary to be] of
equivalent actuarial value to the retiree's allowance and are approved by the Board of
Trustees;

8-404.

(c)     (2) The options that a member may elect under subsection (a) of this section
are:

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