Maine § 5 §17857 Transfer from special plan

Maine Statutes

§ 5 §17857 — Transfer from special plan

Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 20 STATE RETIREMENT SYSTEM·Ch. 423 STATE EMPLOYEES AND TEACHERS

1.Special plan defined. As used in this section, unless the context otherwise indicates, "special plan" means any of the retirement programs in section 17851, subsection 4, 5, 6, 7, 8, 9, 10 or 11 and section 17851‑A.

2.Additional creditable service. Additional creditable service is earned by a former participant in a special plan as follows.

3.Reduction of benefits; 10 years of creditable service on July 1, 1993. Upon retirement before reaching age 60, the service retirement benefit of a member who transferred or who was restored to service subject to subsection 2 must be reduced as follows. 3-A. Reduction of benefits; less than 10 years of creditable service on July 1, 1993. On and after July 1, 1993, upon retirement before reaching the age of 62, the service retirement benefit of a m

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1.
Special plan defined.
As used in this section, unless the context otherwise indicates, "special plan" means any of the retirement programs in section 17851, subsection 4, 5, 6, 7, 8, 9, 10 or 11 and section 17851‑A.
2.
Additional creditable service.
Additional creditable service is earned by a former participant in a special plan as follows.
3.
Reduction of benefits; 10 years of creditable service on July 1, 1993.
Upon retirement before reaching age 60, the service retirement benefit of a member who transferred or who was restored to service subject to subsection 2 must be reduced as follows.
3-A.
Reduction of benefits; less than 10 years of creditable service on July 1, 1993.
On and after July 1, 1993, upon retirement before reaching the age of 62, the service retirement benefit of a member who transferred or who was restored to service subject to subsection 2 must be reduced as follows.
3-B.
Reduction of benefits; less than 5 years of creditable service on July 1, 2011.
On and after July 1, 2011, upon retirement before reaching the 65 years of age, the service retirement benefit of a member who transferred or who was restored to service subject to subsection 2 must be reduced as follows:
4.
Computation of benefit.
The computation of the retirement benefit must be based upon the member's average final compensation, as defined in section 17001, subsection 4.

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Legislative History

PL 1985, c. 801, §§5,7 (NEW). PL 1989, c. 79, §§1,2 (AMD). PL 1993, c. 410, §L42 (AMD). PL 1997, c. 769, §19 (AMD). PL 1999, c. 731, §§CC11,12 (AMD). PL 2001, c. 442, §2 (AMD). PL 2001, c. 667, §A4 (AMD). PL 2001, c. 699, §2 (AMD). PL 2011, c. 380, Pt. T, §20 (AMD). PL 2021, c. 548, §45 (REV).