Ch. 21

2003 LAWS OF MARYLAND

funded over a period of 5 years beginning on July 1, 1999 by payment of an annual
accrued liability contribution by the University System of Maryland and the Medical
System as provided in § 21-307(i) and (j) of this subtitle.

(f) (1) When the funding ratio for the teachers' systems is between 90% and
110%, the teachers' system contribution rate is the rate [certified by the Board of
Trustees] for the previous fiscal year, adjusted to reflect legislative changes that
result in changes in normal cost and to amortize over 25 years any actuarial liabilities
of the teachers' systems.

(3) When the funding ratio for the teachers' systems is above 110%, the
teachers' system contribution rate shall be the difference between:

[1.] (I) the teachers' system contribution rate for the previous
fiscal year; and

[2.] (II) 20% of the difference between the teachers' system
contribution rate for the previous fiscal year and the full funding rate for the current
fiscal year.

DRAFTER'S NOTE:

Error: Misnomer in § 21-304(b)(3)(i) of the State Personnel and Pensions
Article.

Occurred: Ch. 440, Acts of 2002.

Error: Stylistic tabulation error in § 21-304(d) of the State Personnel and
Pensions Article.

Occurred: As a result of the merger of Chapters 19 and 440, Acts of 2002.
Correction by the publisher of the Annotated Code in the 2002 Supplement
of the State Personnel and Pensions Article is ratified by this Act.

Error: Erroneous language in § 21-304(f)(1) of the State Personnel and
Pensions Article.

Occurred: Ch. 440, Acts of 2002.

Error: Stylistic tabulation error in § 21-304(f)(3) of the State Personnel
and Pensions Article.

Occurred: Ch. 440, Acts of 2002. Correction by the publisher of the
Annotated Code in the 2002 Supplement of the State Personnel and
Pensions Article is ratified by this Act.

22-201.

(b) Sections 22-202 through 22-204 of this subtitle do not apply to:

(6) an employee of a LOCAL board of [supervisors of] elections who
chooses to stay in a local merit system under § 2-207 of the Election Law Article.

DRAFTER'S NOTE:

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