CHAPTER 114
S.P. 66 - L.D. 237
An Act Concerning Eligibility Requirements for State Employees, Teachers and Participating Local District Employees to Purchase Military Service Credit
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §17760, sub-§2, ¶A, as enacted by PL 1985, c. 801, §§5 and 7, is amended to read:
A. On Except as provided in paragraph G, on the date of retirement, the member must have at least 15 years of creditable service.
Sec. 2. 5 MRSA §17760, sub-§2, ¶E, as amended by PL 1989, c. 907, §3, is further amended to read:
E. A Except as provided in paragraph G, a member who served in the armed forces during any federally recognized period of conflict, as defined in Title 37-B, section 504, subsection 4, paragraph A-1, subparagraph (3), is entitled to service credit under this subsection.
Sec. 3. 5 MRSA §17760, sub-§2, ¶G is enacted to read:
G. A member who fails to meet one or more of the terms and conditions required under paragraphs A, D and E may purchase service credit as provided in this paragraph. The member must have at least 5 years of creditable service and, before any retirement benefit becomes effective for that member, must pay into the Members' Contribution Fund, by a single direct payment or annual direct payments to the retirement system, an amount that, together with regular interest on that amount, is the actuarial equivalent, at the effective date of the retirement benefit, of the portion of the retirement benefit based on the additional creditable service. Annual direct payments must be made in accordance with section 17701, subsection 4. Any member who purchases service credit under this paragraph who subsequently, without inclusion of the purchased service credit and prior to retirement, meets the terms and conditions of paragraphs A, D and E is entitled to purchase the service credit under section 17713, subsection 2 and to receive a refund of the amount paid under this paragraph that exceeds the cost to purchase the service credit under section 17713.
Sec. 4. 5 MRSA §18360, sub-§2, ¶A, as enacted by PL 1985, c. 801, §§5 and 7, is amended to read:
A. On Except as provided in paragraph I, on the date of retirement, the member must have at least 15 years of creditable service.
Sec. 5. 5 MRSA §18360, sub-§2, ¶E, as amended by PL 1991, c. 23, §3, is further amended to read:
E. A Except as provided in paragraph I, a member who served in the armed forces during any federally recognized period of conflict, as defined in Title 37-B, section 504, subsection 4, paragraph A-1, subparagraph (3), is entitled to service credit under this subsection.
Sec. 6. 5 MRSA §18360, sub-§2, ¶I is enacted to read:
I. A member who fails to meet one or more of the terms and conditions required under paragraphs A, D and E may purchase service credit as provided in this paragraph. The member must have at least 5 years of creditable service and, before any retirement benefit becomes effective for that member, must pay into the Members' Contribution Fund, by a single direct payment or annual direct payments to the retirement system, an amount that, together with regular interest on that amount, is the actuarial equivalent, at the effective date of the retirement benefit, of the portion of the retirement benefit based on the additional creditable service. Annual direct payments must be made in accordance with section 17701, subsection 4. Any member who purchases service credit under this paragraph who subsequently, without inclusion of the purchased service credit and prior to retirement, meets the terms and conditions of paragraphs A, D and E is entitled to purchase the service credit under section 18311, subsection 2 and to receive a refund of the amount paid under this paragraph that exceeds the cost to purchase the service credit under section 18311.
Effective September 21, 2001, unless otherwise indicated.
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