| 123rd MAINE LEGISLATURE | ||||||
| LD 1934 | LR 2753(02) | |||||
| An Act To Require the State To Divest Itself of Funds from Companies Doing Business with Iran | ||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | ||||||
| Committee: Labor | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| Undetermined future biennium cost increase - All Funds | ||||||
| Fiscal Detail and Notes | ||||||
| This legislation may increase costs to the State and other public employers who make contributions to the Maine Public Employees Retirement System (MainePERS) to fund the pension benefits of State employees, teachers, judges, legislators and municipal employees. Divestiture of MainePERS holdings from companies that do business with Iran may result in the future investment performance of the MainePERS Trust Funds being lower than the 7.75% projected investment return currently in place. A lower than anticipated return on investment will result in higher contributions from the State and other public employers. The actual impact of this measure on investment returns can not be determined at this time. | ||||||