Sec. RR-1. 5 MRSA §17709, sub-§3 is enacted to read:
3. After August 31, 1984. Beginning September 1, 2002, a law enforcement officer in the Department of Inland Fisheries and Wildlife who was first employed in that capacity after August 31, 1984 shall contribute to the retirement system or have pick-up contributions made by the employer at a rate of 7.5% of earnable compensation until the law enforcement officer has completed 25 years of creditable service and at a rate of 6.5% thereafter.
Sec. RR-2. 5 MRSA §17710, sub-§1-B is enacted to read:
1-B. After August 31, 1984. Beginning September 1, 2002, a law enforcement officer in the Department of Marine Resources who was first employed in that capacity after August 31, 1984 shall contribute to the retirement system or have pick-up contributions made by the employer at a rate of 7.5% of earnable compensation until the law enforcement officer has completed 25 years of creditable service and at a rate of 6.5% thereafter.
Sec. RR-3. 5 MRSA §17851, sub-§§5-B and 5-C are enacted to read:
5-B. Inland fisheries and wildlife officers after August 31, 1984. Beginning September 1, 2002 and subject to subsection 5-C, a law enforcement officer in the Department of Inland Fisheries and Wildlife who was first employed in that capacity after August 31, 1984 or who, if employed in that capacity before August 31, 1984, ceased to be employed in that capacity on or before that date and who subsequently became reemployed in that capacity after that date qualifies for a service retirement benefit after completing at least 25 years of creditable service in that capacity.
5-C. Inland fisheries and wildlife officers; contingent qualification for benefits. Notwithstanding subsection 5-A and section 17851-A, subsection 1, paragraph B, the qualification for a service retirement benefit for a law enforcement officer in the Department of Inland Fisheries and Wildlife who was first employed after August 31, 1984 is governed by the provisions of subsection 5-B for all service earned in a covered capacity upon certification by the Executive Director of the Maine State Retirement System to the Governor and the Commissioner of Inland Fisheries and Wildlife that all liabilities associated with that service have been paid in full by the State to the system.
Sec. RR-4. 5 MRSA §17851, sub-§§6-B and 6-C are enacted to read:
6-B. Marine resources officers after August 31, 1984. Beginning September 1, 2002 and subject to subsection 6-C, a law enforcement officer in the Department of Marine Resources who was first employed in that capacity after August 31, 1984 or who, if employed in that capacity before August 31, 1984, ceased to be employed in that capacity on or before that date and who subsequently became reemployed in that capacity after that date qualifies for a service retirement benefit after completing at least 25 years of creditable service in that capacity.
6-C. Marine resources officers; contingent qualification for benefits. Notwithstanding subsection 6-A and section 17851-A, subsection 1, paragraph A, the qualification for a service retirement benefit for a law enforcement officer in the Department of Marine Resources who was first employed after August 31, 1984 is governed by the provisions of subsection 6-B for all service earned in a covered capacity upon certification by the Executive Director of the Maine State Retirement System to the Governor and the Commissioner of Marine Resources that all liabilities associated with that service have been paid in full by the State to the system.
Sec. RR-5. 5 MRSA §17851-A, sub-§1, ¶¶A and B, as enacted by PL 1997, c. 769, §11, are amended to read:
A. Law Until September 1, 2002, law enforcement officers in the employment of the Department of Marine Resources on July 1, 1998, or hired thereafter;
B. Law Until September 1, 2002, law enforcement officers in the employment of the Department of Inland Fisheries and Wildlife on July 1, 1998, or hired thereafter;
Sec. RR-6. 5 MRSA §17851-A, sub-§2, as amended by PL 2001, c. 409, §3, is further amended to read:
2. Qualification for benefits. A member employed in any one or a combination of the capacities specified in subsection 1 after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K, and any employee identified in subsection 1, paragraph L, qualifies for a service retirement benefit if that member either:
A. Is at least 55 years of age and has completed at least 10 years of creditable service under the 1998 Special Plan in any one or a combination of the capacities; or
B. Has completed at least 25 years of creditable service in any one or a combination of the capacities specified in subsection 1, whether or not the creditable service included in determining that the 25-year requirement has been met was earned under the 1998 Special Plan or prior to its establishment.
Sec. RR-7. 5 MRSA §17851-A, sub-§3, ¶A, as amended by PL 2001, c. 409, §4, is further amended to read:
A. For the purpose of meeting the qualification requirement of subsection 2, paragraph A:
(1) Service credit purchased by repayment of an earlier refund of accumulated contributions following termination of service is included only to the extent that time to which the refund relates was served after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H and after December 31, 1999 for employees identified in subsection 1, paragraphs I to K, in any one or a combination of the capacities specified in subsection 1. Service credit may be purchased for service by an employee identified in subsection 1, paragraph L regardless of when performed; and
(2) Service credit purchased other than as provided under subparagraph (1), including but not limited to service credit for military service, is not included.
Sec. RR-8. 5 MRSA §17851-A, sub-§4, ¶¶A and B, as repealed and replaced by PL 2001, c. 409, §5, are amended to read:
A. If all of the member's creditable service in any one or a combination of the capacities specified in subsection 1 was earned after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B; after June 30, 1998 for employees identified in subsection 1, paragraphs C to H; after December 31, 1999 for employees identified in subsection 1, paragraphs I to K; and after December 31, 2001 for employees identified in subsection 1, paragraph L; if service credit was purchased by repayment of an earlier refund of accumulated contributions for service in any one or a combination of the capacities specified in subsection 1 after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B; after June 30, 1998 for employees identified in subsection 1, paragraphs C to H; after December 31, 1999 for employees identified in subsection 1, paragraphs I to K; and after December 31, 2001 for employees identified in subsection 1, paragraph L; or if service credit was purchased by other than the repayment of an earlier refund and eligibility to make the purchase of the service credit, including, but not limited to, service credit for military service, was achieved after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B; after June 30, 1998 for employees identified in subsection 1, paragraphs C to H; after December 31, 1999 for employees identified in subsection 1, paragraphs I to K; and after December 31, 2001 for employees identified in subsection 1, paragraph L, the benefit must be computed as provided in section 17852, subsection 1, paragraph A.
(1) If the member had 10 years of creditable service on July 1, 1993, the benefit under subsection 2, paragraph B must be reduced as provided in section 17852, subsection 3, paragraphs A and B.
(2) If the member had fewer than 10 years of creditable service on July 1, 1993, the benefit under subsection 2, paragraph B must be reduced by 6% for each year that the member's age precedes 55 years of age.
B. Except as provided in paragraphs D and E, if some part of the member's creditable service in any one or a combination of the capacities specified in subsection 1 was earned before July 1, 1998 for employees identified in subsection 1, paragraphs A to H, before January 1, 2000 for employees identified in subsection 1, paragraphs I to K and before January 1, 2002 for employees identified in subsection 1, paragraph L and some part of the member's creditable service in any one or a combination of the capacities specified in subsection 1 was earned after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K and after December 31, 2001 for employees identified in subsection 1, paragraph L then the member's service retirement benefit must be computed in segments and the amount of the member's service retirement benefit is the sum of the segments. The segments must be computed as follows:
(1) The segment or, if the member served in more than one of the capacities specified in subsection 1 and the benefits related to the capacities are not interchangeable under section 17856, segments that reflect creditable service earned before July 1, 1998 for employees identified in subsection 1, paragraphs A to H, before January 1, 2000 for employees identified in subsection 1, paragraphs I to K and before January 1, 2002 for employees identified in subsection 1, paragraph L or purchased by repayment of an earlier refund of accumulated contributions for service before July 1, 1998, for employees identified in subsection 1, paragraphs A to H, before January 1, 2000 for employees identified in subsection 1, paragraphs I to K and before January 1, 2002 for employees identified in subsection 1, paragraph L in a capacity or capacities specified in subsection 1 or purchased by other than the repayment of a refund and eligibility to make the purchase of the service credit, including, but not limited to, service credit for military service, was achieved before July 1, 1998 for employees identified in subsection 1, paragraphs A to H, before January 1, 2000 for employees identified in subsection 1, paragraphs I to K and before January 1, 2002 for employees identified in subsection 1, paragraph L must be computed under section 17852, subsection 1, paragraph A. If the member is qualified under subsection 2, paragraph B and:
(a) Had 10 years of creditable service on July 1, 1993, the amount of the segment or segments must be reduced as provided in section 17852, subsection 3, paragraphs A and B; or
(b) Had fewer than 10 years of creditable service on July 1, 1993, the amount of the segment or segments must be reduced as provided in section 17852, subsection 3-A; and
(2) The segment that reflects creditable service earned after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K and after December 31, 2001 for employees identified in subsection 1, paragraph L or purchased by repayment of an earlier refund of accumulated contributions for service after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K and after December 31, 2001 for employees identified in subsection 1, paragraph L in any one or a combination of the capacities specified in subsection 1, or purchased by other than the repayment of a refund and eligibility to make the purchase of the service credit, including, but not limited to, service credit for military service, was achieved after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K and after December 31, 2001 for employees identified in subsection 1, paragraph L must be computed under section 17852, subsection 1, paragraph A. If the member is qualified under subsection 2, paragraph B and:
(a) Had 10 years of creditable service on July 1, 1993, the segment amount must be reduced in the manner provided in section 17852, subsection 3, paragraphs A and B for each year that the member's age precedes 55 years of age; or
(b) Had fewer than 10 years of creditable service on July 1, 1993, the segment amount must be reduced by 6% for each year that the member's age precedes 55 years of age.
Sec. RR-9. 5 MRSA §17851-A, sub-§5, as amended by PL 2001, c. 409, §6, is further amended to read:
5. Contributions. Notwithstanding any other provision of subchapter III, after June 30, 1998 and before September 1, 2002 for employees identified in subsection 1, paragraphs A and B, after June 30, 1998 for employees identified in subsection 1, paragraphs C to H, after December 31, 1999 for employees identified in subsection 1, paragraphs I to K and after December 31, 2001 for employees identified in subsection 1, paragraph L, a member in the capacities specified in subsection 1 must contribute to the retirement system or have pick-up contributions made at the rate of 8.65% of earnable compensation until the member has completed 25 years of creditable service as provided in this section and at the rate of 7.65% thereafter.
Sec. RR-10. 5 MRSA §17852, sub-§§5-C and 5-D are enacted to read:
5-C. Inland fisheries and wildlife officers; benefit computation after September 1, 2002. On and after September 1, 2002, the retirement benefit of a law enforcement officer in the Department of Inland Fisheries and Wildlife who is qualified under section 17851, subsection 5-B is calculated as follows:
A. The portion of the retirement benefit that is based on service earned in the covered capacity prior to September 1, 2002 is computed in accordance with section 17851-A, subsection 4; and
B. The portion of the retirement benefit that is based on service earned in the covered capacity on and after September 1, 2002 is computed in accordance with subsection 1.
5-D. Inland fisheries and wildlife officers; contingent benefit computation. Notwithstanding subsection 5-C, paragraph A, the retirement benefit of a law enforcement officer in the Department of Inland Fisheries and Wildlife who is qualified under section 17851, subsection 5-C is computed in accordance with subsection 5-C, paragraph B for all service in the covered capacity.
Sec. RR-11. 5 MRSA §17852, sub-§6-B, as repealed by PL 2001, c. 439, Pt. GGGG, §15, is reenacted to read:
6-B. Marine resources officers exercising option; retirement before 55 years of age. Except as provided in section 17851-A, for a person exercising the option provided in section 17851, subsection 6-A, who makes the payments required in subsection 6-A and who retires before reaching 55 years of age, the retirement benefit is determined as follows.
A. For members with 10 years of creditable service on July 1, 1993, the retirement benefit is determined in accordance with subsection 1, except that:
(1) The amount arrived at under subsection 1 is reduced by applying to that amount the percentage that a life annuity due at 55 years of age bears to the life annuity due at the age of retirement; and
(2) For the purpose of making the computation under subparagraph (1), the board-approved tables of annuities in effect at the date of the member's retirement are used.
For the purpose of calculating creditable service under this subsection only, "creditable service" includes time during which a member participated in the voluntary cost-savings plan or the voluntary employee incentive program, authorized by Public Law 1989, chapter 702, Part F, section 6 and Public Law 1991, chapter 591, Part BB and chapter 780, Part VV; or 10 years of combined creditable service under this Part and Title 3, chapter 29; or creditable service available to a member that the member was eligible to purchase on June 30, 1993 and that the member does purchase in accordance with rules adopted by the board.
B. For members who do not have 10 years of creditable service on July 1, 1993, the retirement benefit is determined in accordance with subsection 1, except that the benefit is reduced by 6% for each year that the person's age precedes 55 years of age.
Sec. RR-12. 5 MRSA §17852, sub-§§6-C and 6-D are enacted to read:
6-C. Marine resources officers; benefit computation after September 1, 2002. On and after September 1, 2002, the retirement benefit of a law enforcement officer in the Department of Marine Resources who is qualified under section 17851, subsection 6-B, is calculated as follows:
A. The portion of the retirement benefit that is based on service earned in the covered capacity prior to September 1, 2002 is computed in accordance with section 17851-A, subsection 4; and
B. The portion of the retirement benefit that is based on service earned in the covered capacity on and after September 1, 2002 is computed in accordance with subsection 1.
6-D. Marine resources officers; contingent benefit computation. Notwithstanding subsection 6-C, paragraph A, the retirement benefit of a law enforcement officer in the Department of Marine Resources who is qualified under section 17851, subsection 6-C is computed in accordance with subsection 6-C, paragraph B for all service in the covered capacity.
Sec. RR-13. PL 2001, c. 439, Pt. GGGG is repealed.
Sec. RR-14. Transfer of funds in Service Benefit Reserve Account. As of the effective date of this Part, funds in the Service Benefit Reserve Account are appropriated to the Maine State Retirement System and must be transferred not later than August 1, 2002 to the system, to be held as assets of the system. These assets must be held apart from other assets attributable to the state employee and teacher retirement plan of the system and must be held for the sole purpose of funding the liabilities arising from the benefit changes made in this Part. These assets must be accounted for by the system in the manner it determines to reflect the requirements of this Part. The funds transferred under this section, together with any other funds subsequently provided to the system for the same purpose, and together with any investment earnings attributed to any of these funds, comprise the Wardens Benefit Reserve Account on the system's books.
Sec. RR-15. Funding of benefit changes that are effective prospectively after the effective date of this chapter and payment of the related normal cost increase in the current biennium. With respect to an employee's service after September 1, 2002 in a position to which this Part applies, the increase in employer normal cost contributions resulting from the increased normal cost rate that is necessary to support the changed benefits as they are earned must be estimated by the Maine State Retirement System based on the total payroll for the positions to which this Part applies as of the pay date closest to August 1, 2002. The amount of the increased normal cost contributions must be paid from the funds transferred under section 14 of this Part. The system shall pay these increased contributions not later than September 1, 2002 as a single lump sum, reducing the funds held in the Wardens Benefit Reserve Account by the amount required to fully pay the estimated amount of the increased contributions for the remainder of the current biennium and transferring that amount on the books of the system to the general assets of the state employee and teacher retirement plan. After the last payroll of the current biennium is paid, the system shall reconcile the estimated with the required actual amount of the increased contributions, adjusting the reduction of the Wardens Benefit Reserve Account accordingly. Effective July 1, 2003, the normal cost rate for the positions to which this Part applies must be adjusted to the normal cost rate determined by the system and its actuary to thereafter support the changed benefits as they are earned, to be paid to the system in the normal course of payment of retirement contributions.
Sec. RR-16. Funding of the liability for the increased values of service rendered between August 31, 1984 and September 1, 2002. No retirement service credit related to the increased value of service rendered between August 31, 1984 and September 1, 2002 in positions to which this Part applies is due to or may be given to any employee until the full actuarial cost of the total liability for the increased value of all of that service for all employees to whom this Part applies has been paid. The amount required to pay the full actuarial cost must be accumulated by the Maine State Retirement System through funds provided to it for that purpose. Funds so provided must be held by the system in the Wardens Benefit Reserve Account until the full actuarial cost is accumulated in that account. Funds to be held in the Wardens Benefit Reserve Account to pay this cost consist of the funds transferred under section 14 in this Part, funds provided thereafter for the same purpose and any investment earnings on the funds, reduced by amounts required to pay the increased normal cost contributions in the current biennium as provided in section 15 of this Part and by any investment losses. Funds in the Wardens Benefit Reserve Account must be invested by the system with the general assets of the state employee and teacher retirement plan and those funds' share of investment earnings and losses must be attributed to the Wardens Benefit Reserve Account.
The full actuarial cost of the liability for the increased value of service rendered between August 31, 1984 and September 1, 2002 in positions to which this Part applies is the amount of the liability for the increased value, as calculated by the Maine State Retirement System's actuary, increased by the interest cost that arises because the full cost of the now-increased value of the service already rendered was not paid to the system at the time the service was rendered. Interest costs continue to accrue until the full actuarial cost of the increased value has been accumulated in the Wardens Benefit Reserve Account and is thereafter transferred on the books of the system from the Wardens Benefit Reserve Account to the general assets of the state employee and teacher retirement plan. If an actuarially significant change in the amount of the liability for the increased value, as determined by the system and its actuary, occurs before the full actuarial cost has been accumulated, the full actuarial cost must be increased or decreased accordingly.
Sec. RR-17. Credit for service rendered between August 31, 1984 and September 1, 2002; contingency. No retirement service credit related to the increased value of service rendered between August 31, 1984 and September 1, 2002 in positions to which this Part applies is due to or may be given to any employee until the Executive Director of the Maine State Retirement System certifies to the Governor, the Commissioner of Inland Fisheries and Wildlife and the Commissioner of Marine Resources that the amount of the full actuarial cost has been accumulated in the Wardens Benefit Reserve Account and has been transferred on the books of the Maine State Retirement System to the general assets of the state employee and teacher retirement plan, thereby funding the full actuarial costs of the liability for the increased value of that service.
Sec. RR-18. Previous election to self-fund an early retirement option; refund; timing. After the contingency set out in section 17 of this Part is satisfied by the required certification, the Maine State Retirement System must refund the additional amount paid above the normal employee contribution rate plus interest on that amount from the date of payment to a member who is then employed in a position to which this Part applies and who elected to exercise the option of retirement at 55 years of age or after 55 years of age and before 60 years of age under the Maine Revised Statutes, Title 5, section 17852, subsection 5-A, as enacted by Public Law 1995, chapter 466, Part A, section 3, or Title 5, section 17852, subsection 6-A, as enacted by Public Law 1995, chapter 466, Part B, section 4, or elected to exercise the option of retirement before 55 years of age under Title 5, section 17852, subsection 5-B, as enacted by Public Law 1995, chapter 624, section 6, or Title 5, section 17852, subsection 6-B, as enacted by Public Law 1995, chapter 624, section 8, by paying the full actuarial cost of either of those options through an increased employee contribution to the Maine State Retirement System. Until the contingency is satisfied, there may not be a change in the member's current participation under the option.
Sec. RR-19. Deposit to Wardens Benefit Reserve. Amounts transferred to the Maine State Retirement System pursuant to the Maine Revised Statutes, Title 5, section 1517 must be deposited into the Wardens Benefit Reserve Account until the Executive Director of the Maine State Retirement System certifies to the Governor, the Commissioner of Inland Fisheries and Wildlife and the Commissioner of Marine Resources that the amount of the full actuarial cost of the increased value of that service has been accumulated in the Wardens Benefit Reserve Account.
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