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131st MAINE LEGISLATURE |
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LD 483 |
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LR 1113(05) |
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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
Bill as Engrossed with:
C "A" (H-293)
S "A" (S-454) to C "A" (H-293) |
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Committee: Labor and Housing |
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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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$0 |
$170,054 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$170,054 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill includes
a one-time General Fund appropriation of $170,054 in fiscal year 2024-25 to
the Retirement Allowance Fund within the Maine Public Employees Retirement
System 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 effective July 1,
2024. |
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