LD 979, Page 2 - 120th Legislature, FIRST REGULAR Session

The names of proposed trustees elected or appointed under

paragraphs B, C or, E or G must be submitted to the Legislature

by the Governor and are subject to review by the joint standing

committee of the Legislature having jurisdiction over retirement

matters and to confirmation by the Legislature. A member who is

elected or appointed may serve in the position of trustee from

the date of election or appointment unless the Legislature

rejects the confirmation.

Each trustee subject to paragraphs B to E G must have a working
knowledge of retirement policy and legal issues and a general
knowledge and understanding of banking, finance and investment
practices.

SUMMARY

This bill adds one member to the Board of Trustees of the
Maine State Retirement System, who must be appointed by the
governing body of the American Federation of State, County and
Municipal Employees and who is a member of the retirement system
through a participating local district.

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