122nd MAINE LEGISLATURE
		LD 1021		LR 0263(21)
	An Act To Implement Task Force Recommendations Relating to Parity and Portability of Benefits for Law Enforcement Officers and Firefighters
	Fiscal Note for Senate Amendment "   " to Committee Amendment "B"
	Sponsor: Sen. Martin
	Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2005-06	2006-07	2007-08	2008-09
Net Cost (Savings)
	General Fund		$0	$0	($2,092,719)	($693,743)
Appropriations/Allocations
	General Fund		$0	$0	($2,092,719)	($693,743)
Revenue
	Other Funds		$0		$1,990,221	$580,995
Fiscal Detail and Notes
	This fiscal note reflects the incremental difference between this amendment and Committee Amendment B.
	The amendment establishes age 50 as the minimum age for eligibility for subsidies under the program. The amendment establishes a new retiree contribution based on a percentage of each retirees average monthly final compensation ranging from 2.0% for retirees at least 50 years of age to 1.5% for retirees at least 60 year of age.  Retirees will be required to pay 60 months of contributions into the fund within 12 months of enrollment in the program.  The fiscal note assumes an estimated 60 month contribution of approximately $2,800 to $4,700 per retiree depending on age and average monthly final compensation.  Because of the amendment's requirement that these contributions be made within twelve months of enrollment, it is assumed most of the estimated $2.6 million in retiree contributions would be paid in the first year of the program.  Active employees who retire before making 60 months of employee contributions would need to make up the difference upon retirement in order to be eligible for the program.
	The amendment also exempts the state costs of this bill from the General Fund appropriations limitation established under 5 MRSA §1534.
					Projections	Projections
					2007-08	2008-09
	Total Estimated Subsidy				$4,432,240	$4,875,464
	Estimated Administrative Costs				$109,392	$111,894
	Total Estimated Costs				$4,541,632	$4,987,358
	Estimated Contributions from Actives Employees				($1,230,876)	($1,289,958)
	Estimated Contributions from Retirees				($1,990,221)	($580,995)
	General Fund Subsidy Net of Contributions				$1,320,536	$3,116,405
	Less General Fund Subsidy already in Committee Amendment "B"				($3,413,255)	($3,810,148)
	Incremental change to General Fund cost in this amendment				($2,092,719)	($693,743)