Ch. 661                                    1996 LAWS OF MARYLAND

Employees' Retirement System and the Employees' Pension System or the Local
Fire and Police System.

BY repealing and reenacting, with amendments,
Article - State Personnel and Pensions
Section 21-305, 21-306, and 31-305
Annotated Code of Maryland
(1994 Volume and 1995 Supplement)

BY adding to

Article - State Personnel and Pensions
Section 21-305.1 through 21-305.6
Annotated Code of Maryland
(1994 Volume and 1995 Supplement)

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

Article - State Personnel and Pensions

21-305.

(a)     In this section, "employees' systems" means the Employees' Pension System
and the Employees' Retirement System.

(b)     (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] §§ 21-305.1 AND 21-305.2 OF THIS
SUBTITLE.

(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] § 21-305.3 OF THIS SUBTITLE; [and]

(ii) any withdrawal liability contribution required by [subsection (f) of
this section] § 21-305.5 OF THIS SUBTITLE;

(III) AN AMOUNT EQUAL TO 5% OF THE AGGREGATE EARNABLE
COMPENSATION OF ITS EMPLOYEES WHO ARE MEMBERS OF THE EMPLOYEES'
RETIREMENT SYSTEM; AND

(IV) ANY ANNUAL DEFICIT PAYMENT REQUIRED UNDER §
21-305.4(C) OF THIS SUBTITLE.

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