WILLIAM DONALD SCHAEFER, Governor                               Ch. 6

(1)      EACH FISCAL YEAR, ON BEHALF OF ITS EMPLOYEES WHO ARE
MEMBERS OF ONE OF THE EMPLOYEES' SYSTEMS, A PARTICIPATING
GOVERNMENTAL UNIT SHALL PAY AN AMOUNT EQUAL TO OR GREATER THAN THE
PRODUCT OF MULTIPLYING:

(I)       THE AGGREGATE ANNUAL EARNABLE COMPENSATION OF
THOSE MEMBERS; AND

(II)     THE SUM OF THE NORMAL CONTRIBUTION RATE AND THE
ACCRUED LIABILITY CONTRIBUTION RATE, AS DETERMINED UNDER THIS SECTION.

(2)      EACH FISCAL YEAR, IN ADDITION TO THE AMOUNTS REQUIRED TO
BE PAID UNDER PARAGRAPH (1) OF THIS SUBSECTION, A PARTICIPATING
GOVERNMENTAL UNIT SHALL PAY:

(I)       THE SPECIAL ACCRUED LIABILITY CONTRIBUTION REQUIRED
BY SUBSECTION (E) OF THIS SECTION; AND

(II)     ANY WITHDRAWAL LIABILITY CONTRIBUTION REQUIRED BY
SUBSECTION (F) OF THIS SECTION.

(3)      THE AMOUNT DETERMINED UNDER PARAGRAPHS (1) AND (2) OF
THIS SUBSECTION FOR EACH STATE SYSTEM SHALL BE BASED ON AN ACTUARIAL
DETERMINATION OF THE AMOUNTS THAT ARE REQUIRED TO PRESERVE THE
INTEGRITY OF THE ACCUMULATION FUND OF EACH STATE SYSTEM, USING:

(I)       THE ENTRY-AGE ACTUARIAL COST METHOD; AND

(II)     ACTUARIAL ASSUMPTIONS ADOPTED BY THE BOARD OF
TRUSTEES.

(4)      THE ACTUARY SHALL COMPUTE THE CONTRIBUTIONS PAYABLE
UNDER THIS SECTION.

(5)      THE AMOUNTS COMPUTED UNDER THIS SECTION ARE A CHARGE
AGAINST THE PARTICIPATING GOVERNMENTAL UNIT TO BE PAID IN ACCORDANCE
WITH § 21-309 OF THIS SUBTITLE.

(C) NORMAL CONTRIBUTION RATES.

(1)      AS PART OF EACH ACTUARIAL VALUATION, THE ACTUARY SHALL
DETERMINE THE NORMAL CONTRIBUTIONS, NET OF MEMBER CONTRIBUTIONS, ON
ACCOUNT OF MEMBERS OF THE EMPLOYEES' SYSTEMS WHO ARE EMPLOYEES OF
PARTICIPATING GOVERNMENTAL UNITS.

(2)      EXCEPT AS PROVIDED IN PARAGRAPH (3) OF THIS SUBSECTION, FOR
EACH OF THE EMPLOYEES' SYSTEMS, THE NORMAL CONTRIBUTION RATE FOR
PARTICIPATING GOVERNMENTAL UNITS EQUALS THE FRACTION THAT HAS:

(I) AS ITS NUMERATOR, THE SUM OF THE NORMAL
CONTRIBUTIONS DETERMINED UNDER THIS SUBSECTION; AND

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