Ch. 661                                    1996 LAWS OF MARYLAND

1.       THE SPECIAL ACCRUED LIABILITY ATTRIBUTABLE TO
EACH PARTICIPATING GOVERNMENTAL UNIT UNDER § 21-305.3 OF THIS SUBTITLE;

2.       THE DEFICIT ALLOCATED TO EACH PARTICIPATING
GOVERNMENTAL UNIT UNDER § 21-305.4(C) OF THIS SUBTITLE; AND

3.       THE WITHDRAWAL LIABILITY CONTRIBUTION
ATTRIBUTABLE TO EACH PARTICIPATING GOVERNMENTAL UNIT UNDER §
21-305.5(F) OF THIS SUBTITLE; AND

(II) DECREASED BY THE SUM OF THE OUTSTANDING BALANCES OF
THE SURPLUS ALLOCATED TO EACH PARTICIPATING GOVERNMENTAL UNIT UNDER
§ 21-305.4(B) OF THIS SUBTITLE.

(E)     (1) THE ASSETS THAT ARE ALLOCABLE TO THE EMPLOYEES OF A
PARTICIPATING GOVERNMENTAL UNIT WHO ELECT TO WITHDRAW FROM THE
EMPLOYEES' SYSTEMS SHALL BE COMPUTED BY THE ACTUARY AS PROVIDED IN
THIS SUBSECTION.

(2) THE ACTUARY SHALL:

(I)      MULTIPLY THE ACTIVE PARTICIPANT FUNDING RATIO FOR
THE FISCAL YEAR PRECEDING THE EFFECTIVE DATE OF WITHDRAWAL OF THE
PARTICIPATING GOVERNMENTAL UNIT BY THE ACTUARIAL LIABILITY ALLOCABLE
TO THE EMPLOYEES OF THE PARTICIPATING GOVERNMENTAL UNIT WHO ELECT TO
WITHDRAW; AND

(II)     REDUCE THE AMOUNT DETERMINED UNDER SUBPARAGRAPH
(I) OF THIS PARAGRAPH BY THE SUM OF:

1.       THE OUTSTANDING BALANCE OF THE DEFICIT
ALLOCABLE TO THE PARTICIPATING GOVERNMENTAL UNIT AS OF THE EFFECTIVE
DATE OF WITHDRAWAL;

2.       THE OUTSTANDING BALANCE OF THE SPECIAL ACCRUED
LIABILITY CONTRIBUTION ALLOCABLE TO THE PARTICIPATING GOVERNMENTAL
UNIT AS OF THE EFFECTIVE DATE OF WITHDRAWAL; AND

3.       ANY TRANSITION AMOUNT AS DETERMINED UNDER
SUBSECTION (G) OF THIS SECTION.

(F)     (1) THE WITHDRAWAL LIABILITY CONTRIBUTION OF A PARTICIPATING
GOVERNMENTAL UNIT SHALL BE COMPUTED BY THE ACTUARY AS PROVIDED IN
THIS SUBSECTION.

(2) THE ACTUARY SHALL:

(I) MULTIPLY THE COMPLEMENT OF THE ACTIVE PARTICIPANT
FUNDING RATIO FOR THE FISCAL YEAR PRECEDING THE EFFECTIVE DATE OF
WITHDRAWAL OF THE PARTICIPATING GOVERNMENTAL UNIT BY THE ACTUARIAL
LIABILITY ALLOCABLE TO THE EMPLOYEES OF THE PARTICIPATING
GOVERNMENTAL UNIT WHO ELECT TO REMAIN MEMBERS OF THE EMPLOYEES'
SYSTEMS; AND

- 3750 -