LD 2614
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Page 1 of 10 An Act to Establish Consistent Requirements in Maine State Retirement System Pl... Page 3 of 10
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LR 3968
Item 1

 
annuities in effect at the date of retirement are used for this
purpose.

 
This subsection applies to members who, on July 1, 1993, have 10
years of creditable service.

 
2-A. Early retirement; less than 10 years creditable service
on July 1, 1993. Any member whether or not in service at
retirement who on July 1, 1993 had less than 10 years of
creditable service and who has completed at least 25 years of
creditable service may retire any time before the member's 62nd
birthday. Creditable service as a member of the Maine State
Retirement System after service may be combined with creditable
service as a member of the Maine Legislative Retirement System is
used in for the purpose of determining the completion of 25 years
of creditable service. The retirement allowance is determined in
accordance with section 852, except that it is reduced by 6% for
each year that the member's age precedes age 62. The tables of
annuities in effect at the date of retirement are used for this
purpose.

 
This subsection applies to members who, on July 1, 1993, do not
have 10 years of creditable service.

 
Sec. 4. 3 MRSA §851, sub-§2-B is enacted to read:

 
2-B.__Five-year minimum creditable service requirement for
eligibility to receive a service retirement benefit at applicable
age; applicability.__The minimum requirement of 5 years of
creditable service for eligibility to receive service retirement
benefits under subsection 1-C applies only to:

 
A.__A member who was in service on October 1, 1999;

 
B.__Upon return to service, a member who had left service
prior to October 1, 1999 with or without withdrawing that
member's contributions and who on or after October 1, 1999
returned to service; or

 
C.__A member who was first in service on or after October 1,
1999.

 
For those members to whom the 5-year minimum creditable service
requirement does not apply, the 10-year minimum creditable
service requirement for eligibility to receive service retirement
benefits remains in effect on and after October 1, 1999.

 
Sec. 5. 4 MRSA §1351, sub-§1, as amended by PL 1993, c. 410, Pt. L,
§5, is further amended to read:


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