Sec. 1. 20-A MRSA §12722, sub-§8 is enacted to read:

8.__Resumption of participation in Maine State Retirement System.__Notwithstanding subsection 2, a former member of the Maine State Retirement System who was employed by the Maine Technical College System and who elected to participate in the Teachers Insurance and Annuity Association/College Retirement Equities Fund and terminated participation in the Maine State Retirement System during calendar year 1999 or 2000 may elect to resume participation in the Maine State Retirement System and, upon repayment of earlier contributions, is entitled to all service credit acquired during the previous membership.__The election must be made in writing to the Maine State Retirement System no later than 180 days following the effective date of this subsection.

SUMMARY

This bill allows former members of the Maine State Retirement System who switched out of that program into the Teachers Insurance and Annuity Association/College Retirement Equities Fund in 1999 and 2000 to switch back to the Maine State Retirement System within the 6-month period following the effective date of this bill.