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system members, the holding of the United States Court of Appeals | | for the First Circuit in Parker v. Wakelin et al., (CA 1, No. 96- | | 2225, 8/11/97). In that case, the court held that Maine public | | pension law creates no enforceable private contractual right | | against the modification of teacher members' retirement benefits | | until those benefits are actually receivable. |
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| | | This bill does not limit the ability of the Legislature in the | | future to reduce public pension retirement benefits prospectively | | or to remove or to limit the contractual protection provided by | | this bill with respect to future benefits. Under this bill, | | however, public employee retirement benefits, once earned, may | | not be reduced because the accrued value of those benefits is | | protected under the contract clauses of the Constitution of Maine | | and the United States Constitution. |
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