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129th MAINE LEGISLATURE |
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LD 1842 |
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LR 2549(01) |
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An Act To Amend
the Laws Relating to the Computation of Benefits for Correctional Officers in
the 1998 Special Retirement Plan |
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Fiscal Note for
Original Bill |
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Committee: Labor and Housing |
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Fiscal Note Required: Yes |
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Fiscal Note |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
Net Cost
(Savings) |
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General Fund |
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$543,000 |
$0 |
$0 |
$0 |
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Appropriations/Allocations |
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General Fund |
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$543,000 |
$0 |
$0 |
$0 |
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Fiscal Detail
and Notes |
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This bill
includes a one-time General Fund appropriation of $543,000 in fiscal year
2019-20 to the Retirement System - Retirement Allowance Fund for the cost of
the unfunded actuarial liability created by allowing service retirement
benefits of certain workers in the Department of Corrections who received a
direct care stipend and who are currently under the 1998 Special Plan but had
previously earned retirement benefits under the regular state employee and
teacher plan to have all their benefits calculated under the 1998 Special
Plan. |
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