Maine § 5 §18456 Minimum benefit

Maine Statutes

§ 5 §18456 — Minimum benefit

Maine·Title 5 ADMINISTRATIVE PROCEDURES AND SERVICES·Part 20 STATE RETIREMENT SYSTEM·Ch. 425 PARTICIPATING LOCAL DISTRICTS

A member who has 10 or more years of creditable service at retirement is entitled to a minimum service retirement benefit of $100 a month. A former participating local district employee who had 10 or more years of creditable service and who is receiving a retirement allowance, including adjustments provided by section 18407, that is less than $100 a month must have that former employee's retirement benefit increased to $100 a month the first day of the month following adoption of this section by the participating local district.

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A member who has 10 or more years of creditable service at retirement is entitled to a minimum service retirement benefit of $100 a month. A former participating local district employee who had 10 or more years of creditable service and who is receiving a retirement allowance, including adjustments provided by section 18407, that is less than $100 a month must have that former employee's retirement benefit increased to $100 a month the first day of the month following adoption of this section by the participating local district.

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