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121st Maine Legislature |
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Office of Fiscal and Program Review |
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LD 1513 |
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An
Act To Update the Department of Defense, Veterans and Emergency Management
Laws |
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LR 1889(01) |
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Fiscal Note for Original Bill |
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Sponsor: Rep. Clark of Millinocket |
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Committee: Legal and Veterans Affairs |
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Fiscal Note Required: Yes |
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Fiscal Note |
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Undetermined current biennium cost increase - All Funds |
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Fiscal Detail
and Notes |
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Permitting
a Maine National Guard member on active status for more than 15 days to
obtain service credit in the Maine State Retirement System retroactive to
September 1, 1995 will increase the unfunded liability of the Maine State
Retirement System. Pursuant to the
Constitution of Maine, Article IX, Section 18-A, unfunded liabilities may not
be created except those that result from experience losses. The Maine State Retirement System will
require one-time additional General Fund appropriations and Highway Fund and
other funds allocations, the amounts of which can not be determined at this
time, representing the full actuarial value of the increase to the unfunded
liability. This measure will also
increase the normal cost component of the employer retirement rate associated
with the payroll of those employees that join the system. |
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Any
additional cost to the University of Maine associated with the Director of
the Senator George J. Mitchell Center for Environmental and Watershed
Research serving on the River Flow Advisory Commission can be absorbed
utilizing existing budgeted resources. |
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