CHAPTER 73
H.P. 1443 - L.D. 2007
An Act to Establish the Administrative Operating Budget for the Maine State Retirement System for the Fiscal Year Ending June 30, 1999
Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the 90-day period may not terminate until after the beginning of the next fiscal year; and
Whereas, certain obligations and expenses incident to the operation of the Maine State Retirement System will become due and payable before the 90-day period terminates; and
Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1. Allocation of funds. Administrative operating expenses of the Maine State Retirement System for the fiscal year ending June 30, 1999 must be paid from the retirement system's Expense Fund in accordance with the following schedule.
1998-99
MAINE STATE RETIREMENT SYSTEM
Personal Services $5,035,216
All Other 2,569,350
MAINE STATE RETIREMENT SYSTEM _________
TOTAL ALLOCATIONS $7,604,566
Sec. 2. Attribution of costs. The expenses identified in section 1 are attributed as follows.
1998-99
MAINE STATE RETIREMENT SYSTEM
General Fund $4,622,388
Non-General Fund 1,685,003
Participating Local District and Other 1,297,175
MAINE STATE RETIREMENT SYSTEM _________
TOTAL ATTRIBUTIONS $7,604,566
Sec. 3. Transfers of allocations; year-end balances. Transfers of allocations and carry-forwards of unexpended balances must be carried out in accordance with the Maine Revised Statutes, Title 5, section 17103, subsection 13.
Sec. 4. Collective bargaining agreements approval. The allocations made in section 1 and the attributions made in section 2 include the amounts required to fund the collective bargaining agreements in fiscal year 1998-99 in accordance with Private and Special Law 1997, chapter 12.
Sec. 5. Authorization to expend retirement system reserve administrative operating funds. Of the amount authorized to be expended in section 1, $500,000 for the administrative costs of the retirement system associated with the teachers' retirement program must be provided from the system's reserve administrative operating funds and $151,352 to fund the system's collective bargaining agreements in fiscal year 1998-99 must be provided from the system's reserve administrative operating funds.
Emergency clause. In view of the emergency cited in the preamble, this Act takes effect July 1, 1998.
Effective July 1, 1998.
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