|
|
|
|
|
|
|
|
129th MAINE LEGISLATURE |
|
|
LD 1620 |
|
LR 1903(03) |
|
|
|
An Act To Exclude
Collectively Bargained Salary and Job Promotion Increases from the Earnable
Compensation Limitation for Retirement Purposes |
|
Fiscal Note for
Bill as Engrossed with:
C "A" (S-199) |
|
Committee: Labor and Housing |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fiscal Note |
|
|
|
|
|
|
|
| Potential future biennium cost increase - All funds |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
Although no
immediate unfunded liability is created by the provisions of this bill,
excluding salary or wage increases obtained as a result of collective
bargaining or a job promotion from the cap on earnings used in the
calculation of a member's average final compensation when determining a
member's retirement benefit may result in increased future pension costs to
the Maine Public Employees Retirement System if the earnings used in the
calculation of retirement benefits because of this bill exceed the earnings
assumptions used to estimate pension costs.
The impact can not be determined at this time and will depend on
actual experience. |
|
|
|
|
|
|
|