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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. |