127th MAINE LEGISLATURE
		LD 822		LR 1130(02)
	An Act To Allow a Former Spouse of a Member of the Maine Public Employees Retirement System To Begin Collecting Benefits When the Former Spouse Reaches the Member's Retirement Age
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Fiscal Note
No net fiscal impact
Fiscal Detail and Notes
	Allowing an alternate payee to begin receiving payment of retirement benefits provided under a qualified domestic relations order (QDRO) before the retirement of a member of the State Employee and Teacher Retirement Program, the Legislative Retirement Program, the Judicial Retirement Program and the Participating Local District Retirement Program will not change the manner in which the benefit to the alternate payee is calculated.  According to the Maine Public Employees Retirement System, because the alternate payee's benefit is determined in accordance with the QDRO, the division of benefits is established as part of the order and does not change based on when the benefit commences to be paid.  However, for any alternate payee that begins to receive retirement benefits earlier than they would have under current law, the monthly benefit amount will be lower and will be paid out over a longer period of time.  There is no net fiscal impact to the Maine Public Employees Retirement System.