WILLIAM DONALD SCHAEFER, Governor

Ch. 6

(I) DETERMINE ANY MONTHLY ADJUSTMENT UNDER
PARAGRAPH (2)(II) OF THIS SUBSECTION; AND

(II) NOTIFY THE PERSON OF THE TOTAL AMOUNT TO BE
RECOVERED, THE MONTHLY ADJUSTMENT, AND THE PERIOD OF RECOVERY.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-103(s) and (t).

In subsection (a) of this section, the reference to "a change" in the records of
the several systems is deleted as surplusage.

Defined terms: "Allowance" § 20-101
"Beneficiary" § 20-101
"Board of Trustees" § 20-101
"Person" § 20-101
"Retiree" § 20-101
"Several systems" § 20-101

21-114. INVESTMENT COMMITTEE — ESTABLISHED.

THERE IS AN INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES.

REVISOR'S NOTE: This section is new language derived without substantive
change from the first sentence of former Art. 73B, § 1-103(g)(2)(i) as it
established the Investment Committee.

Defined term: "Board of Trustees" § 20-101

21-115. SAME — MEMBERSHIP.

(A)     IN GENERAL.

THE BOARD OF TRUSTEES SHALL:

(1)      SPECIFY BY RESOLUTION THE NUMBER OF MEMBERS OF THE
INVESTMENT COMMITTEE; AND

(2)      EXCEPT AS PROVIDED IN SUBSECTION (B)(2) OF THIS SECTION,
APPOINT ANNUALLY THE MEMBERS OF THE INVESTMENT COMMITTEE FROM THE
MEMBERS OF THE BOARD OF TRUSTEES.

(B)      COMPOSITION.

THE BOARD OF TRUSTEES SHALL ENSURE THAT THE MEMBERSHIP OF THE
INVESTMENT COMMITTEE INCLUDES:

(1) A REPRESENTATIVE OF EACH OF:

(I)       THE EMPLOYEES' PENSION SYSTEM OR THE EMPLOYEES'
RETIREMENT SYSTEM;

(II)     THE TEACHERS' PENSION SYSTEM OR THE TEACHERS'
RETIREMENT SYSTEM; AND

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