GENERAL ASSEMBLY COMPENSATION COMMISSION

(p) Retiree. "Retiree" means an individual who is eligible for retirement and has
applied to receive a retirement allowance.

(q) Retirement allowance. "Retirement allowance" means the allowance payable
to a retiree.

(r) State system. "State system" means a retirement or pension system other than
the Legislative Pension Plan that is included in the State Retirement and Pension System
under § 21-102 of the State Personnel and Pensions Article.

(s) Statutory pension plan. "Statutory pension plan" means the pension plan
established as of July 1, 1966 for an individual appointed or elected to the General
Assembly before January 1, 1971 who elected to participate in the plan in accordance with
the provisions of former Article 73B, § 11(13) which were transferred to the Session Laws
by Ch. 131, § 5(3) of the Acts of 1992.

(t) Survivor allowance. "Survivor allowance" means the allowance payable by the
Board of Trustees on the death of a participant.

(u) Year of service. "Year of service" means a year or fraction thereof during
which a member serves as a legislator in the General Assembly.

2. Legislative Pension Plan - Established.

The Legislative Pension Plan is established as of January 13, 1971.

3. Administration; Funding.

(a)     Administration. The Board of Trustees shall:

(1)     Administer the Legislative Pension Plan in accordance with the
provisions of this Item 3A;

(2)     Credit the assets of the Legislative Pension Plan to the annuity savings
fund, the accumulation fund, and the expense fund of the Employees' Retirement System
according to the purpose for which they are held pursuant to the provisions of Title 21,
Subtitle 3 of the State Personnel and Pensions Article; and

(3)     Manage and invest the funds of the Legislative Pension Plan in
accordance with the provisions of Title 21 of the State Personnel and Pensions Article.

(b)     Funding.

(1)     Each fiscal year, on behalf of the members of the Legislative Pension
Plan, the State shall ascertain and pay to the accumulation fund of the Employees'
Retirement System for the Legislative Pension Plan the amount determined by the
actuary pursuant to the provisions of §§ 21-304 and 21-308 of the State Personnel and
Pensions Article, that is an amount sufficient to fund the benefits payable on a sound
actuarial basis.

(2)     For purpose of making the calculations required under this subsection,
the Legislative Pension Plan shall be combined with the Employees' Retirement System
and the Employees' Pension System.

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