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130th MAINE LEGISLATURE |
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LD 190 |
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LR 573(01) |
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An Act To Amend
the Laws Governing Retirement Benefit Reductions for Corrections Officers
Currently Included in the 1998 Special Plan |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Pres. Jackson of Aroostook |
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Committee: Labor and Housing |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$280,000 |
$0 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$280,000 |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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The Retirement
System - Retirement Allowance Fund within the Maine Public Employees
Retirement System will require a one-time General Fund appropriation of
$280,000 in fiscal year 2021-22 for the cost of the unfunded actuarial
liability created by allowing service retirement benefits of certain workers
in the Department of Corrections who received a direct care stipend and who
are currently under the 1998 Special Plan but had previously earned
retirement benefits under the regular state employee and teacher plan to have
all their benefits calculated under the 1998 Special Plan. |
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