132nd MAINE LEGISLATURE
		LD 1236		LR 2257(02)
	An Act to Address Employee Retention of State Employees Who Are Firefighters at Bangor International Airport
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Labor
	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		$522,078	$0	$0	$0
Appropriations/Allocations
	General Fund		$522,078	$0	$0	$0
	Federal Expenditures Fund		$1,759	$2,510	$2,608	$2,710
Fiscal Detail and Notes
	This legislation adds persons employed as firefighters in the Department of Defense, Veterans and Emergency Management at Bangor International Airport to a new special retirement plan that provides a service retirement benefit after the completion of 25 years of creditable service regardless of age and allows the service retirement benefits already earned by those employees under the 1998 Special Plan to be calculated under the new special retirement plan.  This bill includes a one-time General Fund appropriation of $522,078 in fiscal year 2025-26 to the Maine Public Employees Retirement System for the increase in the unfunded actuarial liability created as a result of the retroactive provision in this bill.  Pursuant to the Constitution of Maine, Article IX, Section 18-A, unfunded liabilities may not be created except those that result from experience losses.  This bill also includes ongoing Federal Expenditures Funds allocations of $1,759 in fiscal year 2025-26 and $2,510 in fiscal year 2026-27 to the Department of Defense, Veteran and Emergency Management for the increase in the employer's retirement contributions on a prospective basis.