Ch. 160

1997 LAWS OF MARYLAND

(2) The Secretary of the Board of Trustees may allow a grace period for
payment of the amounts due under this section not to exceed 10 calendar days.

(3) On notification by the Secretary of the Board of Trustees that a
delinquency exists, the State Comptroller immediately shall set off the delinquent amount
against any money due or coming due to the delinquent participating employer.

(e) On receipt of the payments from the participating employer, the Board of
Trustees shall credit the amounts to the individual account of the member, from whose
compensation the member contribution is made, in the annuity savings fund of the
appropriate system.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1997.

Approved April 29, 1997.

CHAPTER 160
(Senate Bill 313)

AN ACT concerning

Workforce Reduction Act - Retirement Allowance for Deferred Retirements

FOR the purpose of providing that certain members of the Employees' Pension System
whose retirement under the Workforce Reduction Act was deferred shall receive
the greater of two retirement allowances computed as of certain dates; providing for
the construction of this Act; and generally relating to the computation of retirement
allowances of certain retirees under the Workforce Reduction Act.

BY repealing and reenacting, with amendments,

Chapter 353 of the Acts of the General Assembly of 1996
Section 2(9)

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

Chapter 353 of the Acts of 1996

SECTION 2. AND BE IT FURTHER ENACTED, That:

(9) (i) Except as provided in [subparagraph (ii)] SUBPARAGRAPHS (II)
AND (III) of this paragraph, a member of the Employees' Pension System who retires
under this section of this Act shall receive a service retirement allowance equal to the sum
of the member's creditable service and the additional credit described in paragraph (7) of
this section of this Act, multiplied by:

1. 0.8 percent of the member's average final compensation that
is not in excess of the social security integration level; and

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