ROBERT L. EHRLICH, JR., Governor

Ch. 24

3. the accumulated contributions that would have been
deducted during the period the individual was a member of the State system while it
was a noncontributory system if the individual had earned the transferred service
credit under the contributory system, including interest on those contributions.

(2) On retirement from the contributory system, the individual's
retirement allowance shall be reduced by the actuarial equivalent of the amounts
determined under paragraph (1)(ii) 2 and 3 of this subsection if the member elects not
to deposit those amounts in the annuity savings fund or other corresponding fund of
the contributory system.

(e)     Except as provided in § 37-204 of this subtitle, an individual who transfers
service credit under this title shall receive service credit in the new system in the
amount of service credit accumulated under the previous system.

(f)      On verification of the service credit, the previous system may not provide
any benefit for service credit transferred from the previous system to a new system
under this title.

(g)     (1) Except as otherwise provided in this subsection, after an individual
transfers service credit to a new system under this title, the individual:

(i) shall pay the rate of contribution applicable to a member of the
new system; and

(ii) is eligible for a pension and annuity as provided under the new
system, determined by taking into account the transferred service credit.

(2) If an individual retires within 5 years after transferring into a new
system, the benefits payable with respect to the transferred service credit may not be
greater than the benefits that would have been payable by the previous system with
respect to that service if the individual had remained in the previous system.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2003.

Approved April 8, 2003.

CHAPTER 24
(Senate Bill 356)

AN ACT concerning

Frederick County - Alcoholic Beverages - Stadium License

FOR the purpose of authorizing the Frederick County Board of License
Commissioners to issue a stadium on-sale license to a certain person;
authorizing the holder of a stadium license to sell beer and light wine during
events in a certain stadium under certain conditions; setting a license fee;
providing that a certain privilege is not part of a certain license; making this Act

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