Ch. 6

1994 LAWS OF MARYLAND

In subsection (f)(1) and (2) of this section, the references to "federal old age,
survivors, and disability insurance" are substituted for the former references
to "federal old age and survivors insurance" for accuracy.

Defined terms: "Board of Trustees" § 20-101
"County" § 20-101
"Earnable compensation" § 20-101
"Employees' Pension System" § 20-101
"Employees' Retirement System" § 20-101
"Judges' Retirement System" § 20-101
"Member" § 20-101
"Member contribution" § 20-101
"Retiree" § 20-101

"State Police Retirement System" § 20-101
"Teachers' Retirement System" § 20-101

21-308: SAME — PAYMENT BY STATE.

(A)     IN GENERAL.

(1)      ON OR BEFORE DECEMBER 1 OF EACH YEAR, THE BOARD OF
TRUSTEES SHALL:

(I)       CERTIFY TO THE GOVERNOR AND THE SECRETARY OF
BUDGET AND FISCAL PLANNING THE RATES TO BE USED TO DETERMINE THE
AMOUNTS TO BE PAID BY THE STATE TO THE ACCUMULATION FUND OF EACH OF
THE SEVERAL SYSTEMS DURING THE NEXT FISCAL YEAR; AND

(II)     PROVIDE TO THE SECRETARY OF BUDGET AND FISCAL
PLANNING A STATEMENT OF THE TOTAL AMOUNT TO BE PAID TO THE TEACHERS'
RETIREMENT SYSTEM AND THE TEACHERS' PENSION SYSTEM EXPRESSED AS A
PERCENTAGE OF THE PAYROLL OF ALL MEMBERS OF THOSE STATE SYSTEMS.

(2)      THE GOVERNOR SHALL INCLUDE IN THE BUDGET BILL:

(I)       THE TOTAL AMOUNT OF THE STATE'S CONTRIBUTION TO EACH
STATE SYSTEM AS ASCERTAINED BASED ON THE RATES CERTIFIED BY THE BOARD
OF TRUSTEES UNDER PARAGRAPH (1) OF THIS SUBSECTION; AND

(II)     THE ADDITIONAL AMOUNTS AS ASCERTAINED UNDER
SUBSECTION (D) OF THIS SECTION FOR THE STATE'S PAYMENT TO THE
PROFESSIONAL AND CLERICAL EMPLOYEES OF THE DEPARTMENT OF PUBLIC
LIBRARIES OF MONTGOMERY COUNTY WHO ARE MEMBERS OF THE EMPLOYEES'
RETIREMENT SYSTEM OF MONTGOMERY COUNTY AND ARE EXCLUDED FROM
MEMBERSHIP IN THE TEACHERS' RETIREMENT SYSTEM OR THE TEACHERS' PENSION
SYSTEM.

(B)      INCLUSION OF RETIREMENT COSTS IN BUDGETS OF STATE UNITS.

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