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132nd MAINE LEGISLATURE |
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LD 355 |
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LR 337(05) |
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An Act to Advance
the Maine Retirement Savings Program |
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Fiscal Note for
Bill as Engrossed with:
C "A" (S-305)
S "A" (S-667) to C "A" (S-305) |
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Committee: Health Coverage, Insurance and
Financial Services |
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| Fiscal Note |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Appropriations/Allocations |
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Maine Retirement Savings
Program Enterprise Fund |
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$0 |
$625,000 |
$0 |
$0 |
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| Transfers |
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Other Special Revenue Funds |
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$0 |
($625,000) |
$0 |
$0 |
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Maine Retirement Savings
Program Enterprise Fund |
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$0 |
$625,000 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill
transfers $625,000 in fiscal year 2026-27 from an Other Special Revenue Funds
account within the Office of the Attorney General 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 becomes self-sustaining,
estimated by the Pew Charitable Trusts to be in 2031. |
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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. |
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