CHAPTER 17

H.P. 688 - L.D. 978

Resolve, Directing the Advisory Council on Tax-deferred

Arrangements To Study Deferred Retirement Option Programs

Sec. 1. Advisory Council on Tax-deferred Arrangements to study deferred retirement options. Resolved: That the Advisory Council on Tax-deferred Arrangements, established by the Maine Revised Statutes, Title 5, section 12004-I, subsection 25, shall study whether it is in the interest of the State and of employees and retirees who are members of the Maine State Retirement System to make available a deferred retirement option program as part of the deferred compensation programs offered to these employees and retirees; and be it further

Sec. 2. Report and recommendations. Resolved: That the Advisory Council on Tax-deferred Arrangements shall report its findings and recommendations, including suggested legislation if appropriate, to the Joint Standing Committee on Labor no later than January 15, 2006; and be it further

Sec. 3. Administrative support. Resolved: That the Department of Administrative and Financial Services shall provide administrative support for the study under section 1, and any costs associated with this study must be absorbed within existing budgeted resources; and be it further

Sec. 4. Authority to report out legislation. Resolved: That the Joint Standing Committee on Labor is authorized to report out legislation concerning the study under section 1 to the Second Regular Session of the 122nd Legislature.