An Act To Remove from the Calculation of the Cost of Education the Maine Public Employees Retirement System Teacher Plan Unfunded Actuarial Liability
Sec. 1. 20-A MRSA §5806, sub-§2, as repealed and replaced by PL 2013, c. 497, §1, is amended to read:
Sec. 2. 20-A MRSA §15671, sub-§7, ¶C, as amended by PL 2019, c. 343, Pt. C, §2, is repealed.
Current law provides a method of calculating the state share percentage of the total cost of funding public education from kindergarten to grade 12 that includes the unfunded actuarial liability of the Maine Public Employees Retirement System as it applies to teachers. This bill repeals that provision of law.