An Act To Increase the Number of Members of the Board of Trustees of the Maine State Retirement System
Maine Legislature, Session 121, LD 0528
Committee: Labor
Sponsors: O'BRIEN, JACKSON, MILLETI, CARPENTER, KNEELAND, LEMONT, MITCHELL, WESTON
Amends: 5 MRSA §17102

Legislative Document 
No. 528 
H.P.413 
House of Representatives, February 6, 2003 
An Act To Increase the Number of Members of the Board of 
Trustees of the Maine State Retirement System 
Reference to the Committee on Labor suggested and ordered printed. 
Presented by Representative O'BRIEN of Augusta. 
/Jf~ 
/h.17/dI:~ 
MILLICENT M. MacFARLAND 
Clerk 
Cosponsored by Representatives: JACKSON of Fort Kent, MILLETI of Waterford, Senators: 
CARPENTER of York, KNEELAND of Aroostook, LEMONT of York, MITCHELL of 
Penobscot, SA V AGE of Knox, WESTON of Waldo. 
Printed on re<:ycled paper 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1. 5 MRSA §17102, sub-§I, as amended by PL 1997, c. 625, 
§l, is further amended to read: 
1. 
Composition. 
The Board of Trustees of the Maine State 
Retirement System, established by section l2004-F, subsection 9, 
is composed of 8 ~ trustees, as follows: 
A. 
The Treasurer of State or the Deputy Treasurer of State; 
B. 
A person who 
is 
a 
member 
of the 
retirement 
system 
through employment as a teacher and who is duly elected by 
the Maine Education Association; 
membe r 
f 
the 
state employee 
retirement 
and 
who 
system 
is duly 
C. 
A person who 
is 
a 
through employment 
as 
a 
elected by the Maine State Employees' Association; 
D. 
~eQ~ Five persons appointed by the Governor and subject 
to review by the joint standing committee of the Legislature 
having 
jurisdiction 
over 
retirement 
matters 
and 
to 
confirmation by the Legislature: 
(1) 
At least 
of 
whom 
must be qualified through 
training or experience in the field of investments, 
accounting, bankina or insurance or as actuaries; 
(2) 
One 
nominees 
of whom must 
submitted 
by 
Association; aRa 
be selected 
the 
Maine 
from a list of 
:1 
Retired 
Teachers' 
(3) 
One of whom must be the recipient of a retirement 
allowance through the retirement system and be selected 
from a list or lists of nominees submitted by retired 
state employees, 
retired participating local district 
employees or a 
committee comprised of representatives 
of these groups; and 
(4) 
One of whom must be selected from a list of 
nominees submitted by the Maine Association of Retirees 
or its successor organization; and 
E. 
A person who 
is 
a 
member 
of the 
retirement 
through 
a 
participating local district and 
who 
appointed by 
the governing body 
of 
the 
Maine 
system 
must 
be 
Municipal 
Association. 
The 
names 
of 
proposed 
trustees 
elected 
or 
appointed 
under 
paragraphs B, C or E must be submitted to the Legislature by the 
Page l-LR0520(1) 
Governor 
and 
are 
subject 
to 
review 
by 
the 
committee of the Legislature having jurisdiction 
matters and to confirmation by the Legislature. 
elected or appointed may serve in the position 
the 
date 
of 
election or 
appointment 
unless 
rejects the confirmation. 
joint 
standing 
over retirement 
A member who is 
of trustee from 
the 
Legislature 
Each trustee subject to paragraphs B to E must have a working 
knowledge of retirement policy and legal issues and a general 
knowledge and understanding of banking, finance and investment 
practices. 
SUMMARY 
This bill adds one member to the Board of Trustees of the 
Maine State Retirement System, who must be selected from a list 
of 3 nominees submitted by the Maine Association of Retirees.