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This
amendment eliminates the General Fund appropriation in the bill and provides
for a special retirement rate assessment to be applied to all departments and
agencies from July 1, 2003 to September 30, 2003 to fund the employer's share
of the costs, estimated by the Maine State Retirement System to be $76,081,
associated with those current and future retirees for whom it is expected
that fiscal year 2002-03 could be one of the average final compensation years
used in the benefit calculation. The
impact to General Fund accounts is estimated to be $35,378; the impact to
Highway Fund accounts is expected to be approximately $12,781; and the impact
to other fund accounts is estimated to be $27,922. The ability of departments and agencies to absorbed this cost
can not be determined at this time. |
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