132nd MAINE LEGISLATURE
		LD 2145		LR 2785(03)
	An Act to Decrease Offsets to Disability Retirement Benefits
	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		$0	$899,692	$0	$0
Appropriations/Allocations
	General Fund		$0	$899,692	$0	$0
Fiscal Detail and Notes
	This bill reduces the amount by which disability retirement benefits under the State and Teacher Retirement Program may be offset. The bill includes a one-time General Fund appropriation of $899,692 in fiscal year 2026-27 to the Maine Public Employees Retirement System for the unfunded actuarial liability created as a result of the provisions 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 may also result in increased employer contributions, which cannot be estimated at this time but will be reflected in future normal costs. This bill also eliminates offsets to disability retirement benefits under the Participating Local District Retirement Program, creating an unfunded actuarial liability of $778,378 which may be amortized over 20 years.