LD 881
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LD 881 Title Page An Act To Allow the Buyback of Active Duty Military Time for Maine State Retire... Page 2 of 2
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LR 1047
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 5 MRSA §17760, sub-§2, ¶D, as enacted by PL 1985, c. 801, §§5
and 7, is amended to read:

 
D. Except as provided in paragraph E, the The member must
have begun membership before January 1, 1976.

 
Sec. 2. 5 MRSA §17760, sub-§2, ¶E, as amended by PL 2001, c. 114, §2,
is repealed.

 
Sec. 3. 5 MRSA §17760, sub-§2, ¶G, as enacted by PL 2001, c. 114, §3,
is amended to read:

 
G. A member who fails to meet one or more of the terms
and conditions required under paragraphs A, and D and E
may purchase service credit as provided in this paragraph.
The member must have at least 5 years of creditable
service and, before any retirement benefit becomes
effective for that member, must pay into the Members'
Contribution Fund, by a single direct payment or annual
direct payments to the retirement system, an amount that,
together with regular interest on that amount, is the
actuarial equivalent, at the effective date of the
retirement benefit, of the portion of the retirement
benefit based on the additional creditable service.
Annual direct payments must be made in accordance with
section 17701, subsection 4. Any member who purchases
service credit under this paragraph who subsequently,
without inclusion of the purchased service credit and
prior to retirement, meets the terms and conditions of
paragraphs A, and D and E is entitled to purchase the
service credit under section 17713, subsection 2 and to
receive a refund of the amount paid under this paragraph
that exceeds the cost to purchase the service credit under
section 17713.

 
Sec. 4. 5 MRSA §18360, sub-§2, ¶D, as enacted by PL 1985, c. 801, §§5
and 7, is amended to read:

 
D. Except as provided in paragraph E, the The member must
have begun membership before January 1, 1976.

 
Sec. 5. 5 MRSA §18360, sub-§2, ¶E, as amended by PL 2001, c. 114, §5,
is repealed.

 
Sec. 6. 5 MRSA §18360, sub-§2, ¶F, as enacted by PL 1985, c. 801, §§5
and 7, is amended to read:

 
F. Except for members qualifying under paragraph E, this
This subsection:


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