Sec. A-1. PL 2005, c. 12, Pt. PPPP, §§1, 3 and 4 are repealed.
Sec. A-2. Maine State Retirement System, Administrative Expense Reserve. Notwithstanding any other provision of law, the Maine State Retirement System shall transfer $250,000 from the Administrative Expense Reserve account to the Retirement Allowance Fund on or before January 1, 2006. This transfer must be reflected as a prepayment of the unfunded actuarial liability of teachers.
Sec. A-3. Appropriations and allocations. The following appropriations and allocations are made.
EDUCATION, DEPARTMENT OF
Teacher Retirement 0170
Initiative: Provides funds for the normal cost of teachers' retirement for the 2006-2007 biennium.
GENERAL FUND 2005-06 2006-07
All Other $61,167,861 $64,532,094
__________ __________
GENERAL FUND TOTAL $61,167,861 $64,532,094
Teacher Retirement 0170
Initiative: Provides funds for the unfunded actuarial liability of teachers' retirement for the 2006-2007 biennium. The fiscal year 2005-06 appropriation is reduced by the transfer of $41,908,402 from the General Fund unappropriated surplus provided in Public Law 2005, chapter 12, Part PPPP, section 2 and the transfer of $250,000 from the Maine State Retirement System's Administrative Expense Reserve account to the Retirement Allowance Fund on or before January 1, 2006.
GENERAL FUND 2005-06 2006-07
All Other $71,157,805 $119,548,943
__________ __________
GENERAL FUND TOTAL $71,157,805 $119,548,943
EDUCATION, DEPARTMENT OF
DEPARTMENT TOTALS 2005-06 2006-07
GENERAL FUND $132,325,666 $184,081,037
__________ __________
DEPARTMENT TOTAL -
ALL FUNDS $132,325,666 $184,081,037
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