PARRIS N. GLENDENING, Governor                             Ch. 362

(i) the retiree's annuity; or

(ii) for a retiree or the designated beneficiary of a retiree of the State
Police Retirement System,] the sum of the retiree's annuity and the amount authorized
to be deducted for health insurance premiums.

(c) [(1) This subsection applies to:

(i) the Correctional Officers' Retirement System;

(ii) the Employees' Retirement System;

(iii) the State Police Retirement System; or

(iv) the Teachers' Retirement System.

(2)] The retirement allowance to be reduced under this section is the
retirement allowance at retirement without any cost-of-living adjustment and is
retroactive.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be construed
prospectively only and shall apply to all payments of worker's compensation benefits on or
after October 1, 1995.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1995.

Approved May 18, 1995.

CHAPTER 362
(Senate Bill 137)

AN ACT concerning

Pensions - Limitations on Investments

FOR the purpose of repealing modifying a certain limitation on the percentage of certain
assets that the Board of Trustees for the State Retirement and Pension System may
invest in nondividend paying common stocks.

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 21-123(c)
Annotated Code of Maryland
(1994 Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

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