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131st MAINE LEGISLATURE |
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LD 483 |
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LR 1113(04) |
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An Act to Amend
the Laws Governing Retirement Benefit Reductions for Certain Employees
Currently Included in the 1998 Special Plan |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Rotundo of Androscoggin |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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($170,054) |
$170,054 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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($170,054) |
$170,054 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This amendment
eliminates the one-time General Fund appropriation of $170,054 in fiscal year
2023-24 included in the bill to the Retirement Allowance Fund within the
Maine Public Employees Retirement System (MainePERS) for the increase in the
unfunded actuarial liability created as a result of allowing the service
retirement benefits for certain employees in the Department of Corrections
earned under the regular state employee and teacher plan to be calculated
under the 1998 Special Plan and instead provides a General Fund appropriation
in fiscal year 2024-25 for the same purpose. |
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