Maine § 5 §17253 Employer contribution rate

Maine Statutes

§ 5 §17253 — Employer contribution rate

Maine § 5 §17253

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 20STATE RETIREMENT SYSTEM

Ch. 421GENERAL PROVISIONS

This text of Maine § 5 §17253 (Employer contribution rate) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 5, § 5 §17253 (2026).

Text

The percentage rate of the employer contribution, described in section 17252, to be known as the "employer contribution rate," is fixed on the basis of the assets and liabilities of the retirement programs of the Maine Public Employees Retirement System as shown by actuarial valuation.

1.Computation. The employer contribution rate is determined as the percentage of the members' earnable compensation payable during the members' periods of membership required to provide the difference between the total liabilities for retirement allowances, survivors' benefits and disability retirement benefits not provided by the members' accumulated contributions and the amount of the assets in the Retirement Allowance Fund.

2.Manner of determination. The employer contribution rate shall be determined af

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The percentage rate of the employer contribution, described in section 17252, to be known as the "employer contribution rate," is fixed on the basis of the assets and liabilities of the retirement programs of the Maine Public Employees Retirement System as shown by actuarial valuation.
1.
Computation.
The employer contribution rate is determined as the percentage of the members' earnable compensation payable during the members' periods of membership required to provide the difference between the total liabilities for retirement allowances, survivors' benefits and disability retirement benefits not provided by the members' accumulated contributions and the amount of the assets in the Retirement Allowance Fund.
2.
Manner of determination.
The employer contribution rate shall be determined after each valuation based on actuarial assumptions adopted by the board and shall continue in force until a new valuation is made.
3.
Components of unfunded liability contribution.
The annual valuation report prepared by the actuary in accordance with section 17107 must include identification of the impact on the employer contribution rate of any excess General Fund revenues transferred to the Retirement Allowance Fund pursuant to section 1532.

Legislative History

PL 1985, c. 801, §§5,7 (NEW). PL 1987, c. 739, §§8,48 (AMD). PL 1995, c. 464, §15 (AMD). PL 2005, c. 2, §A10 (AMD). PL 2005, c. 2, §A14 (AFF). PL 2007, c. 249, §21 (AMD). PL 2007, c. 491, §91 (AMD).