Sec. 1. Appropriations and allocations. The following appropriations and allocations are made.

MAINE STATE RETIREMENT SYSTEM

Warden Benefit Reserve Account

Initiative: To fund the full actuarial cost of the total liability for the increased value of service rendered between August 31, 1984 and September 1, 2002 by game wardens and marine patrol officers described in the Maine Revised Statutes, Title 5, section 17851, subsection 5-B, 5-C, 6-B or 6-C.

General Fund 2001-02 2003-04

All Other $0 $4,000,000

__________

General Fund Total $0 $4,000,000

SUMMARY

In 2001, a special retirement plan was created for game wardens and marine patrol officers, but the liability to the retirement system created by the increased value under the plan for service rendered prior to September 1, 2002 was not funded. A mechanism was established for providing funds, but that mechanism has not resulted in the necessary funds. This bill appropriates the funds needed to fully fund the liability for the increased value of services rendered by game wardens and marine patrol officers between August 31, 1984 and September 1, 2002. The dollar amount provided in the bill is an estimate based on the amount that would have been required if the full payment had been made on July 1, 2002. The figure must be updated with an actuarially determined amount in order to fully fund the liability so that the increased benefits will become payable to game wardens and marine patrol officers.