121st Maine Legislature
		Office of Fiscal and Program Review
		LD 11
		An Act to Establish the Administrative Operating Budget for the Maine State Retirement System for the Fiscal Year Ending June 30, 2004
		LR 0300(01)
		Fiscal Note for Original Bill
		Sponsor: Rep Smith
		Committee: Labor
		Fiscal Note Required: Yes
Fiscal Note
Fiscal Detail and Notes
	This bill establishes the administrative operating budget for the Maine State Retirement System for fiscal year 2003-04 in the amount of $9,959,245.  Eight-two percent of this amount, $8,206,418, is paid by the State with the General Fund's share estimated at 67%, or $6,697,592.  The proposed current services budget for the fiscal year 2003-04 and fiscal year 2004-05 biennium includes funds sufficient for the State's share of the system's fiscal year 2003-04 operating costs.