WILLIAM DONALD SCHAEFER, Governor

Ch. 635

and the employer's contributions transferred to the system which the employee joins. The
employer contributions so transferred shall be an amount equal to the employee's
accumulated contribution as defined in § 1-101(b) of this title, unless an actuarial
valuation is requested by the administrative board of either retirement system, in which
case the cost of that valuation shall be borne equally by the two systems. The rate of
contribution for any employee so transferred after he transfers shall be determined by the
provisions of the retirement system to which the employee transfers.

(b) Any employee who has so transferred since July 1, 1965 1994, whose rate of
contribution is reduced or increased, shall have any excess employee contributions
refunded and pay the amount of any shortage of contributions.]

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be construed
retroactively and shall be applied to and interpreted to affect all fiscal years beginning on
or after July 1, 1981.

SECTION 3. AND BE IT FURTHER ENACTED, That Scction(s) 37-206 of
Article—State Personnel and Pensions of the Annotated Code of Maryland (as enacted

by Chapter______(S.B. 1) of the Acts of the General Assembly of 1994) be repealed the

Laws of Maryland read as follows:

Article - State Personnel and Pensions

37-206.

(a)     (1) If a member of a State or local retirement or pension system who is employed
by the Maryland-National Capital Park and Planning Commission [, the Washington
Suburban Sanitary Commission, or the Washington Suburban Transit Commission] transfers
to another [State or local] retirement or pension system of fa county within the area served
by those agencies] PRINCE GEORGE'S COUNTY AS A RESULT OF THE TRANSFER OF A UNIT
OF THE MARYLAND-NATIONAL CAPITAL PARK AND PLANNING COMMISSION POLICE
FORCE TO THE PRINCE GEORGE'S COUNTY POLICE DEPARTMENT:

(i) the member's accumulated contributions, if not previously withdrawn,
shall be transferred to the new system; and

(ii) all the employer contributions on behalf of the member and interest on
those contributions shall be transferred to the new system.

(2)     Unless the administrative board of the previous system or of the new system
requests an actuarial valuation, the employer contributions transferred under this subsection
shall be equal to the member's accumulated contributions.

(3)     If the administrative board of either system requests an actuarial valuation,
the cost of that valuation shall be shared equally by the previous system and the new system.

(b)     If the rate of contribution for an individual who transfers on or after July 1,
[1965] 1994, to a new system under this section is altered because of the transfer:

(1) the previous system shall refund to the individual any excess member
contributions; and

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