LD 1746 LR 2123(01)
An Act To Expand the 1998 Special Retirement Plan To Include Employees Who Work for the Office of Chief Medical Examiner
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Hickman of Kennebec
Committee: Labor and Housing
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $0 $35,787 $36,932 $38,114
General Fund $0 $35,787 $36,932 $38,114
Federal Expenditures Fund $0 $1,403 $1,448 $1,494
Fiscal Detail and Notes
Allowing employees employed in the Office of Chief Medical Examiner within the Department of the Attorney General on or after October 1, 2022 to participate in the 1998 Special Plan of the Maine Public Employees Retirement System (MainePERS) on a prospective basis will increase both the normal cost and unfunded actuarial liability components of the employer retirement rate, resulting in increased employer contributions to MainePERS on behalf of the employees beginning in fiscal year 2022-23.
Although this legislation includes a provision that allows for eligible employees in the Office of Chief Medical Examiner to elect to participate in the 1998 Special Plan, the estimated costs included in this preliminary fiscal impact statement are based on the assumption that all eligible employees within the office will choose to participate.  Given this assumption, the Office of Chief Medical Examiner will require a General Fund appropriation of $35,787 and a Federal Expenditures Fund allocation of $1,403 in fiscal year 2022-23 for the costs associated with moving the positions to the 1998 Special Plan effective October 1, 2022.