| 123rd MAINE LEGISLATURE | ||||||
| LD 869 | LR 1135(01) | |||||
| Resolve, Directing the Maine State Retirement System To Recalculate the Retirement Benefits of D'Lila Terracin | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Rep. Tuttle of Sanford | ||||||
| Committee: Labor | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| Undetermined current biennium cost increase - General Fund | ||||||
| Fiscal Detail and Notes | ||||||
| Requiring the Maine State Retirement System to retroactively recalculate retirement benefits for D'Lila Terracin to allow her to receive 2 years of disaility payments and to enable her to avoid early retirement penalties would increase the unfunded liability of the Maine State Retirement System. Pursuant to the Constitution of Maine, Article IX, Section 18-A, unfunded liabilities may not be created except those that result from experience losses. The Maine State Retirement System will require a one-time General Fund appropriation, the amount of which can not be determined at this time, representing the full actuarial value of the increase to the unfunded liability resulting from this provision. | ||||||