123rd MAINE LEGISLATURE
		LD 323		LR 480(02)
	An Act Permitting Substitute Teachers To Opt Out of the Maine State Retirement System
	Fiscal Note for Bill as Amended by Committee Amendment "     "
	Committee: Labor
	Fiscal Note Required: Yes
Fiscal Note
Potential future biennium savings - General Fund Potential cost increase to school administrative units
Fiscal Detail and Notes
	Since the State funds 100% of the employers' share of teacher retirement costs, this legislation may result in potential savings to the State if substitute public school teachers opt out of the Maine State Retirement System.  The amount of savings can not be determined at this time and will depend on the number of substitute teachers who decline membership in the System.
	However, this legislation may result in increased costs to school administrative units as employers of substitute teachers who opt out of the Maine State Retirement System for the employers' share of the required Social Security contributions or other alternative retirement plan.  The impact to individual school units can not be determined at this time.