|
|
|
|
|
|
|
|
132nd MAINE LEGISLATURE |
|
|
LD 355 |
|
LR 337(02) |
|
|
|
An Act to Advance
the Maine Retirement Savings Program |
|
Fiscal Note for
Bill as Amended by Committee Amendment " " |
|
Committee: Health Coverage, Insurance and
Financial Services |
|
Fiscal Note Required: Yes |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fiscal Note |
|
|
|
|
|
|
|
|
|
|
FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
|
|
|
|
|
|
General Fund |
|
$350,000 |
$275,000 |
$0 |
$0 |
|
|
|
|
|
|
|
| Appropriations/Allocations |
|
|
|
|
|
|
Maine Retirement Savings
Program Enterprise Fund |
|
$350,000 |
$275,000 |
$0 |
$0 |
|
|
|
|
|
|
|
| Transfers |
|
|
|
|
|
|
General Fund |
|
($350,000) |
($275,000) |
$0 |
$0 |
|
Maine Retirement Savings
Program Enterprise Fund |
|
$350,000 |
$275,000 |
$0 |
$0 |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
This bill
transfers $350,000 in fiscal year 2025-26 and $275,000 in fiscal year 2026-27
from the unappropriated surplus of the General Fund to the Maine Retirement
Savings Program Enterprise Fund to support the operations of the program. Corresponding allocations are also included
in the bill. According to the Maine
Retirement Savings Board, this additional funding should be sufficient to
support the operation of the program until it become self-sustaining,
estimated by the Pew Charitable Trusts to be in 2031. |
|
Any additional
costs to the Office of the Attorney General from the provisions of this bill
are expected to be minor and can be absorbed within existing budgeted
resources. |
|
|
|
|
|
|
|