| 123rd MAINE LEGISLATURE | ||||||
| LD 845 | LR 7(01) | |||||
| An Act To Tie the Percentage of Health Insurance Benefits for Retired Teachers to That of Retired Legislators | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Rep. Edgecomb of Caribou | ||||||
| Committee: Labor | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $22,900,000 | $24,503,000 | $26,218,210 | $28,053,485 | ||
| Appropriations/Allocations | ||||||
| General Fund | $22,900,000 | $24,503,000 | $26,218,210 | $28,053,485 | ||
| Fiscal Detail and Notes | ||||||
| The Retired Teachers' Health Insurance program within the Department of Education will require additional General Fund appropriations of $22,900,000 in fiscal year 2007-08 and $24,503,000 in fiscal year 2008-09 for the cost of funding 100% of the cost of health insurance premiums for those retired teachers with 10 or more years as an active participant in the State's standard group health insurance plan. This fiscal note is based on the current population of retired teachers and an estimated premium growth of 7% per year. | ||||||