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Ch. 334
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Martin O'Malley, Governor
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the Education Article, by means of annual payments that increase each year based on
actuarial assumptions adopted by the Board of Trustees on the recommendation of the
actuary.
(2) The Medical System:
(i) shall pay to the Board of Trustees the amount required
under this subsection on July 1 of each year until the increase in the accrued liability
is paid in full; and
(ii) may prepay all or a portion of the increase in the accrued
liability in accordance with a calculation approved by the Board of Trustees.
[(k)] (J) For each employee who is subject to the contributory pension
benefit under Title 23, Subtitle 2, Part II of this article, Frederick County shall pay
the additional liabilities that result from the contributory pension benefit according to
a schedule of amortization that is subject to the approval of the Board of Trustees.
[(1)] (K) For each employee of a participating governmental unit that
initially elects to provide its employees with the contributory pension benefit under
Title 23, Subtitle 2, Part II of this article between July 1, 2002 and December 31, 2002,
inclusive, the participating governmental unit shall pay the additional liabilities that
result from the contributory pension benefit according to any increase in the normal
cost percentage plus a schedule of amortization that is subject to the approval of the
Board of Trustees.
[(m)] (L) For each employee of the Maryland Transit Administration who is
a member of the Law Enforcement Officers' Pension System, the Maryland Transit
Administration shall pay to the Board of Trustees the employer contributions
otherwise required to be made by the State on behalf of the member.
21-403.
(e) (1) Subject to paragraph (2) of this subsection, under Option 5, when a
retiree dies, the Board of Trustees shall pay the retiree's reduced allowance to the
designated beneficiary for the designated beneficiary's life.
(2) If the designated beneficiary dies before the retiree, then:
(i) [from] BEGINNING IN THE MONTH FOLLOWING the date of
death of the designated beneficiary, the Board of Trustees shall pay the retiree the
basic allowance; or
(ii) 1. the retiree may designate a new beneficiary in
accordance with § 21-404 of this subtitle; and
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- 2089 -
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