| | Sec. 1. 5 MRSA §17160 is enacted to read: |
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| §17160.__Minimum level of employer contribution |
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| | Beginning in fiscal year 2002-03 and continuing until the | unfunded liabilities of the Maine State Retirement System | attributable to state employees and teachers are retired as | provided in the Constitution of Maine, Article IX, Section 18-B, | the portion of the employer contribution rate devoted to paying | the unfunded liabilities of the system attributable to state | employees and teachers expressed as a percentage of the earnable | compensation of state employees and teachers may not be less than | the rate paid for that purpose during fiscal year 2001-02.__After | the unfunded liabilities have been retired, the rate may rise and | fall above the fiscal year 2001-02 rate as determined necessary | by actuarial valuation. |
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| | Sec. 2. Task force established. The Task Force to Study Methods of | Addressing Inequities in the Retirement Benefits of State | Employees and Teachers, referred to in this section as the "task | force," is established. |
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| | 1. Membership. The task force consists of 9 members as | follows: |
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| A. Three Legislators, one of whom is appointed by the | President of the Senate and one of whom is appointed by the | Speaker of the House, who shall serve as cochairs of the | task force. The 3rd Legislator must be appointed jointly by | the President of the Senate and the Speaker of the House; |
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| B. The Executive Director of the Maine State Retirement | System or the director's designee; |
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| C. One of the gubernatorial appointees to the Board of | Trustees of the Maine State Retirement System who has | training or experience in the field of investments, | accounting or banking or as an actuary, appointed by the | President of the Senate; |
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| D. The Commissioner of Administrative and Financial | Services or the commissioner's designee; and |
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| E. A representative from each of the following | organizations, appointed by each respective organization: | the Maine State Employees Association, Maine Education | Association and American Federation of State, County and | Municipal Employees. |
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| | 2. Appointments. All appointments must be made no later than | 30 days following the effective date of this Act. The appointing | authorities shall notify the Executive Director of the | Legislative Council upon making their appointments. When the | appointment of all members is complete, the Chair of the | Legislative Council shall call and convene the first meeting of | the task force no later than June 1, 2002. |
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| | 3. Duties. The task force shall: |
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| A. Identify the advantages and possible methods of further | reductions in the amortization schedule for paying off the | unfunded liabilities of the Maine State Retirement System | attributable to state employees and teachers; |
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| B. Identify and list the differences in retirement benefits | available to state employees and teachers who had 10 years | of creditable service on July 1, 1993 and those who did not; |
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| C. Assess the impact of that difference on state employees | and teachers and on State Government and school | administrative units; |
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| D. Calculate the immediate and future cost of restoring the | level of benefits for all state employees and teachers who | did not have 10 years of creditable service on July 1, 1993; |
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| E. Recommend whether those who were employed as state | employees or teachers when the benefit reductions were made | should be treated differently than those employed after the | changes were enacted; and |
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| F. Identify possible methods of funding the restoration of | benefits. |
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| | 4. Staff assistance. The task force may request staffing and | clerical assistance from the Legislative Council. The Maine | State Retirement System shall provide information and actuarial | assistance upon request of the task force. |
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| | 5. Reimbursement. Task force members who are Legislators are | entitled to receive the legislative per diem, as defined in the | Maine Revised Statutes, Title 3, section 2, for each day's | attendance at meetings of the task force. Public members not | otherwise compensated are entitled to receive reimbursement of | necessary expenses and a per diem equal to the legislative per | diem for their attendance at authorized meetings of the task | force. |
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| | 6. Report. The task force shall submit its report with any | accompanying legislation to the Joint Standing Committee on Labor | by December 1, 2002. |
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| | 7. Extension. If the task force requires a limited extension | of time to complete its study and make its report, it may apply | to the Legislative Council, which may grant an extension. |
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| | 8. Budget. The chairs of the task force, with assistance | from the task force staff, shall administer the budget of the | task force. Within 10 days after its first meeting, the task | force shall present a work plan and proposed budget to the | Legislative Council for approval. The task force may not incur | expenses that would result in the task force exceeding its | approved budget. Upon request from the task force, the Executive | Director of the Legislative Council shall provide the task force | chairs and staff with a status report on the task force's budget, | expenditures incurred and paid and available funds. |
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| | Emergency clause. In view of the emergency cited in the preamble, | this Act takes effect when approved. |
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| | 1. Requires the State to retire the unfunded liabilities of | the Maine State Retirement System at a specific rate that is no | less than the rate paid during fiscal year 2001-02; and |
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| | 2. Establishes the Task Force to Study Methods of Addressing | Inequities in the Retirement Benefits of State Employees and | Teachers to study the impact of the changes made to the law that | treat state employees and teachers who did not have 10 years of | creditable service on July 1, 1993 less favorably than those with | 10 years of creditable service before July 1, 1993. |
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