An Act to Establish the Administrative Operating Budget for the Maine State Retirement System for the Fiscal Year Ending June 30, 2004
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 may terminate; 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, 2004 must be paid from the retirement system's Expense Fund in accordance with the following schedule.
2003-04
MAINE STATE RETIREMENT SYSTEM
Personal Services $7,098,675
All Other 2,860,570
MAINE STATE RETIREMENT
SYSTEM __________
TOTAL ALLOCATIONS $9,959,245
Sec. 2. Attribution of costs. The expenses identified in section 1 are attributed as follows.
2003-04
MAINE STATE RETIREMENT SYSTEM
General Fund $6,697,592
Non-General Fund 1,508,826
Participating Local District and Other 1,752,827
MAINE STATE RETIREMENT SYSTEM __________
TOTAL ATTRIBUTIONS $9,959,245
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. Authorization to expend retirement system reserve administrative operating funds. Of the amount authorized to be expended in section 1 for the administrative costs of the retirement system, $100,000 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, 2003.
Effective July 1, 2003.
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