An Act To Restore Equity to the Maine State Retirement System
Maine Legislature, Session 123, LD 1693
Committee Amendment CA_A-SA_B_S604 (Senate)
Amends: 3 MRSA §8, 4 MRSA §1351, 5 MRSA §17851-A, 5 MRSA §17852

SENA TE AMENDMENT" .e " 
to COMMITTEE AMENDMENT "A" to S.P. 600, 
L.D. 1693, Bill, "An Act To Restore Equity to the Maine State Retirement System" 
Amend the amendment by strikiilg- out the first 5 indented paragraphs after the 
substitute title (page 1, lines 14 to 34 in amendment) and inserting the following: 
'Amend the bill by striking out sections 1 to 11 and inserting the following: 
'Sec. 1. 3 MRS A §8S1, sub-§2-A, as amended by PL 2007, c. 491, §26, is further 
amended to read: 
2-A. Early retirement; employed under program on June 30, 1993, but less than 
years creditable service on July 1, 1993. Any member, whether or not in service at 
retirement, who on June 30, 1993 was employed in a position that is covered under the 
State Employee and Teacher Retirement Program, the Legislative Retirement Program or 
the Judicial Retirement Program but who on July 1, 1993 had less than 10 years of 
creditable service and who has completed at least 25 years of creditable service may retire 
any time before the member's 62nd birthday. Creditable service as a member of any other 
retirement program of the Maine Public Employees Retirement System may be combined 
with creditable service as a member of the Legislative Retirement Program for the 
purpose of determining the completion of 25 years of creditable service. The retirement 
allowance is determined in accordance with section 852, except that it is reduced by 6% 
3% for each year that the member's age precedes age 62. 
Sec. 2. 3 MRSA §8S1, sub-§2-C is enacted to read: 
2-C. Early retirement; not employed under program on June 30, 1993. Any 
member, whether or not in service at retirement, who on June 30, 1993 was not employed 
in a position that is covered under the State Employee and Teacher Retirement Program, 
the Legislative Retirement Program or the Judicial Retirement Program and who has 
completed at least 25 years of creditable service may retire any time before the member's 
62nd birthday. 
Creditable service as a member of the Maine Public Employees 
Retirement System may be combined with creditable service as a member of the Maine 
Legislative Retirement System for the purpose of determining the completion of 25 years 
SENATE AMENDMENT 
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SENATE AMENDMENT" 13 " 
to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
of creditable service. The retirement allowance is determined in accordance with section 
852, except that it is reduced by 6% for each year that the member's age precedes age 62. 
Sec. 3. 4 MRSA §1351, sub-§3-A, as amended by PL 1999, c. 756, §9, is further 
amended to read: 
3-A. Early retirement; employed under program on June 30, 1993, but less than 
years creditable service on July 1, 1993. Any member, whether or not in service at 
retirement, who on June 30, 1993 was employed in a position that is covered under the 
State Employee and Teacher Retirement Program, the Legislative Retirement Program or 
the Judicial Retirement Program but who on July 1, 1993 had less than 1 ° years of 
creditable service and who has completed at least 25 years of creditable service may retire 
any time before the member's 62nd birthday. The retirement allowance is determined in 
accordance with section 1352, except that the benefit is reduced by 6-%- 3% for each year 
that the member's age precedes age 62. 
Sec. 4. 4 MRS A §1351, sub-§3-B is enacted to read: 
3-B. Early retirement; not employed under program on June 30, 1993. Any 
member, whether or not in service at retirement, who on June 30, 1993 was not employed 
in a position that is covered under the State Employee and Teacher Retirement Program, 
the Legislative Retirement Program or the Judicial Retirement Program and who has 
completed at least 25 years of creditable service may retire any time before the member's 
62nd birthday. The retirement allowance is determined in accordance with section 1352, 
except that the benefit is reduced by 6% for each year that the member's age precedes age 
62. 
Sec. 5. 5 MRS A §17851-A, sub-§4, ~A, as repealed and replaced by PL 2003, c. 
510, Pt. D, §3 and affected by §§6 and 7, is amended to read: 
A. 
If all of the member's creditable service in anyone or a combination of the 
capacities specified in subsection 1 was earned after June 30, 1998 and before 
September 1, 2002 for employees identified in subsection 1, paragraphs A and B; 
after June 30, 1998 for employees identified in subsection 1, paragraphs C to H; after 
December 31, 1999 for employees identified in subsection 1, paragraphs I to K; after 
December 31, 2001 for employees identified in subsection 1, paragraph L; and after 
June 30, 2002 for employees identified in subsection 1, paragraph M; if service credit 
was purchased by repayment of an earlier refund of accumulated contributions for 
service in anyone or a combination of the capacities specified in subsection 1 after 
June 30, 1998 and before September 1,2002 for employees identified in subsection I, 
paragraphs A and B; after June 30, 1998 for employees identified in subsection 1, 
paragraphs C to H; after December 31, 1999 for employees identified in subsection I, 
paragraphs I to K; after December 31, 2001 for employees identified in subsection 1, 
paragraph L; and after June 30, 2002 for employees identified in subsection 1, 
paragraph M; or if service credit was purchased by other than the repayment of an 
earlier refund and eligibility to make the purchase of the service credit, including, but 
not limited to, service credit for military service, was achieved after June 30, 1998 
and before September 1,2002 for employees identified in subsection I, paragraphs A 
and B; after June 30, 1998 for employees identified in subsection 1, paragraphs C to 
H; after December 31, 1999 for employees identified in subsection 1, paragraphs I to 
SENATE AMENDMENT 
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SENATE AMENDMENT" B " to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
K; after December 31, 2001 for employees identified in subsection 1, paragraph L; 
and after June 30, 2002 for employees identified in subsection 1, paragraph M, the 
benefit must be computed as provided in section 17852, subsection 1, paragraph A. 
(1) If the member had 10 years of creditable service on July 1, 1993, the benefit 
under subsection 2, paragraph B must be reduced as provided in section 17852, 
subsection 3, paragraphs A and B. 
(2) If the member on June 30, 1993 was employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but had fewer than 10 
years of creditable service on July 1, 1993, the benefit under subsection 2, 
paragraph B must be reduced by 6% 3% for each year that the member's age 
precedes 55 years of age. 
(3) If the member on June 30, 1993 was not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the 
Legislative Retirement Program or the Judicial Retirement Program, the benefit 
under subsection 2, paragraph B must be reduced by 6% for each year that the 
member's age precedes 55 years of age. 
Sec. 6. 5 MRS A §17851-A, suh-§4, ~, as repealed and replaced by PL 2003, c. 
510, Pt. D, §4 and affected by §§6 and 7, is amended to read: 
B. 
Except as provided in paragraphs D and E, if some part of the member's 
creditable service in anyone or a combination of the capacities specified in 
subsection 1 was earned before July 1, 1998 for employees identified in subsection I, 
paragraphs A to H; before January 1, 2000 for employees identified in subsection 1, 
paragraphs I to K; before January 1, 2002 for employees identified in subsection 1, 
paragraph L; and before July 1, 2002 for employees identified in subsection 1, 
paragraph M and some part of the member's creditable service in anyone or a 
combination of the capacities specified in subsection 1 was earned after June 30, 
1998 and before September 1, 2002 for employees identified in subsection 1, 
paragraphs A and B; after June 30, 1998 for employees identified in subsection I, 
paragraphs C to H; after December 31, 1999 for employees identified in subsection 1, 
paragraphs I to K; after December 31, 2001 for employees identified in subsection I, 
paragraph L; and after June 30, 2002 for employees identified in subsection 1, 
paragraph M, then the member's service retirement benefit must be computed in 
segments and the amount of the member's service retirement benefit is the sum of the 
segments. The segments must be computed as follows: 
(1) The segment or, if the member served in more than one of the capacities 
specified in subsection 1 and the benefits related to the capacities are not 
interchangeable under section 17856, segments that reflect creditable service 
earned before July 1, 1998 for employees identified in subsection 1, paragraphs A 
to H; before January 1,2000 for employees identified in subsection 1, paragraphs 
I to K; before January 1, 2002 for employees identified in subsection 1, 
paragraph L; and before July 1, 2002 for employees identified in subsection 1, 
paragraph M or purchased by repayment of an earlier refund of accumulated 
contributions for service before July 1, 1998, for employees identified in 
SENATE AMENDMENT 
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SENATE AMENDMENT "..G" to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
subsection 1, paragraphs A to H; before January 1,2000 for employees identified 
in subsection 1, paragraphs I to K; before January 1, 2002 for employees 
identified in subsection 1, paragraph L; and before July 1, 2002 for employees 
identified in subsection 1, paragraph M in a capacity or capacities specified in 
subsection 1 or purchased by other than the repayment of a refund and eligibility 
to make the purchase of the service credit, including, but not limited to, service 
credit for military service, was achieved before July 1, 1998 for employees 
identified in subsection 1, paragraphs A to H; before January 1, 2000 for 
employees identified in subsection 1, paragraphs I to K; before January 1, 2002 
for employees identified in subsection 1, paragraph L; and before July 1,2002 for 
employees identified in subsection 1, paragraph M, must be computed under 
section 17852, subsection 1, paragraph A. 
If the member is qualified under 
subsection 2, paragraph Band: 
(a) Had 10 years of creditable service on July 1, 1993, the amount of the 
segment or segments must be reduced as provided in section 17852, 
subsection 3, paragraphs A and B; or 
(b) Had fewer than 10 years of creditable service on July 1, 1993, the 
amount of the segment or segments must be reduced as provided in section 
17852, subsection 3-A; and 
(2) The segment that reflects creditable service earned after June 30, 1998 and 
before September 1, 2002 for employees identified in subsection 1, paragraphs A 
and B; after June 30, 1998 for employees identified in subsection 1, paragraphs C 
to H; after December 31, 1999 for employees identified in subsection 1, 
paragraphs I to K; after December 31, 2001 for employees identified in 
subsection 1, paragraph L; and after June 30, 2002 for employees identified in 
subsection 1, paragraph M or purchased by repayment of an earlier refund of 
accumulated contributions for service after June 30, 1998 and before September 
I, 2002 for employees identified in subsection 1, paragraphs A and B; after June 
30, 1998 for employees identified in subsection 1, paragraphs C to H; after 
December 31, 1999 for employees identified in subsection 1, paragraphs I to K; 
after December 31, 2001 for employees identified in subsection 1, paragraph L; 
and after June 30, 2002 for employees identified in subsection 1, paragraph M in 
anyone or a combination of the capacities specified in subsection I, or purchased 
by other than the repayment of a refund and eligibility to make the purchase of 
the service credit, including, but not limited to, service credit for military service, 
was achieved after June 30, 1998 and before September 1, 2002 for employees 
identified in subsection I, paragraphs A and B; after June 30, 1998 for employees 
identified in subsection I, paragraphs C to H; after December 31, 1999 for 
employees identified in subsection 1, paragraphs I to K; after December 31, 2001 
for employees identified in subsection 1, paragraph L; and after June 30, 2002 for 
employees identified in subsection I, paragraph M must be computed under 
section 17852, subsection 1, paragraph A. 
If the member is qualified under 
subsection 2, paragraph Band: 
(a) Had 10 years of creditable service on July 1,1993, the segment amount 
must be reduced in the manner provided in section 17852, subsection 3, 
SENATE AMENDMENT 
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SENATE AMENDMENT "/5,, to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
paragraphs A and B for each year that the member's age precedes 55 years of 
age;ef 
(b) Had On June 30, 1993 was employed in a position that is covered under 
the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but had fewer than 
years of creditable service on July 1, 1993, the segment amount must be 
reduced by 6% 3% for each year that the member's age precedes 55 years of 
age~~ 
(c) On June 30, 1993 was not employed in a position that is covered under 
the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the segment amount 
must be reduced by 6% for each year that the member's age precedes 55 
years of age. 
Sec. 7. 5 MRSA §17851-A, sub-§4, ~, as enacted by PL 2001, c. 409, §5, is 
amended to read: 
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E. 
The service retirement benefit of a member to whom subsection 1, paragraph L 
applies and who qualifies for service retirement benefits under subsection 2 must be 
computed under section 17852, subsection 1, paragraph A on the basis of all of the 
member's creditable service in the capacity specified in subsection 1, paragraph L, 
regardless of when that creditable service was earned, except that for a member 
qualifYing under subsection 2, paragraph B: 
(1) If the member had 10 years of service on July 1, 1993, the benefit must be 
reduced as provided in section 17852, subsection 3, paragraphs A and B for each 
year the member's age precedes 55 years of age; or 
(2) If the member on June 30, 1993 was employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but had fewer than 10 
years of creditable service on July 1, 1993, the benefit must be reduced by 6% 
3% for each year that the member's age precedes 55 years of age~~ 
(3) If the member on June 30, 1993 was not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the 
Legislative Retirement Program or the Judicial Retirement Program, the benefit 
must be reduced by 6% for each year that the member's age precedes 55 years of 
age. 
Sec. 8. 5 MRSA §17852, sub-§3-A, as amended by PL 1999, c. 489, §17, is 
further amended to read: 
3-A. Member with creditable service of 25 years or more whether or not in 
service at retirement; employed under program on June 30, 1993 but fewer than 10 
years of creditable service on July 1, 1993. The amount of the service retirement 
benefit for members qualified under section 17851, subsection 3, is computed in 
accordance with subsection 1, except that: 
SENATE AMENDMENT 
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SENATE AMENDMENT "P; " to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
C. 
The benefit is reduced by 6% 3% for each year that the member's age precedes 
years of age; and 
D. 
Effective October 1, 1999, the reduction to be applied to the service retirement 
benefit of a member to whom this subsection applies may not be greater than that in 
effect on October 1, 1999 under paragraph C for a member who, on October 1, 1999 
or thereafter, meets the creditable service requirement for eligibility to receive a 
service retirement benefit under section 17851, subsection l-C, paragraph A; section 
17851, subsection l-C, paragraph B; section 17851, subsection 2-C, paragraph A; 
section 17851, subsection 2-C, paragraph B; or section 17851-A, subsection 2, 
paragraph A. For a member to whom section 17851-A applies, this paragraph must 
be applied in accordance with the requirements of section 17851-A, subsection 4. 
This subsection applies to members who on June 30, 1993 were employed in a position 
that is covered under the State Employee and Teacher Retirement Program, the 
Legislative Retirement Program or the Judicial Retirement Program but who, on July 1, 
1993, do not have 10 years of creditable service. 
Sec. 9. 5 MRS A §17852, sub-§3-B is enacted to read: 
3-B. Member with creditable service of 25 years or more whether or not in 
service at retirement; not employed under program on June 30, 1993. The amount of 
the service retirement benefit for members qualified under section 17851, subsection 3 is 
computed in accordance with subsection 1, except that: 
A. The benefit is reduced by 6% for each year that the member's age precedes 62 
years of age. 
This subsection applies to members who on June 30, 1993 were not employed in a 
position that is covered under the State Employee and Teacher Retirement Program, the 
Legislative Retirement Program or the Judicial Retirement Program. 
Sec. 10. 5 MRS A §17852, sub-§5-B, ~, as enacted by PL 1995, c. 624, §6, is 
amended to read: 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by 6% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 11. 5 MRSA §17852, sub-§5-B, ,C is enacted to read: 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age. 
Sec. 12. 5 MRS A §17852, sub-§6-B, ~, as reenacted by PL 2001, c. 559, Pt. 
RR, § 11 and affected by § 17, is amended to read: 
SENATE AMENDMENT 
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SENATE AMENDMENT" G" to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by 6% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 13. 5 MRSA §17852, sub-§6-B, ~C is enacted to read: 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age. 
Sec. 14. 5 MRS A §17852, sub-§7-B,~, as enacted by PL 1995, c. 624, §10, is 
amended to read: 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by 6% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 15. 5 MRSA §17852, sub-§7-B, ~C is enacted to read: 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age. 
Sec. 16. 5 MRS A §17852, sub-§10, ~C-1, as repealed and replaced by PL 1993, 
c. 410, Pt. L, §41, is amended to read: 
C-l. 
For persons qualifying under section 17851, subsection 11, paragraph B, and 
who retire before reaching the age of 55, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by 6% 3% for each 
year that the member's age precedes age 55. 
This paragraph applies to members who on June 30, 1993 were employed in a 
position that is covered under the State Employee and Teacher Retirement Program, 
the Legislative Retirement Program or the Judicial Retirement Program but who, on 
July 1, 1993, do not have 10 years of creditable service. 
Sec. 17. 5 MRSA §17852, sub-§10, ~C-2 is enacted to read: 
C-2. For persons qualifying under section 17851, subsection 11, paragraph B, and 
who retire before reaching the age of 55, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by 6% for each year 
that the member's age precedes age 55. 
SENATE AMENDMENT 
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SENA TE AMENDMENT ".f:;" to COMMITTEE AMENDMENT" A" to S.P. 600, L.D. 1693 
This paragraph applies to members who on June 30, 1993 were not employed in a 
position that is covered under the State Employee and Teacher Retirement Program, 
the Legislative Retirement Program or the Judicial Retirement Program. 
Sec. 18. 5 MRS A §17852, sub-§12, ~, as enacted by PL 1995, c. 624, § 12, is 
amended to read: 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by e% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 19. 5 MRSA §17852, sub-§12, ~C is enacted to read: 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age. 
Sec. 20. 5 MRSA §17852, sub-§14, ~, as enacted by PL 1997, c. 401, §3, is 
amended to read: 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced bye% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 21. 5 MRS A §17852, sub-§14, ~C is enacted to read: 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age. 
Sec. 22. 5 MRS A §17852, sub-§16, ~, as enacted by PL 1997, c. 401, §3, is 
amended to read: 
B. 
For members who on June 30, 1993 were employed in a position that is covered 
under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, but who do not have 10 
years of creditable service on July 1, 1993, the retirement benefit is determined in 
accordance with subsection 1, except that the benefit is reduced by e% 3% for each 
year that the person's age precedes 55 years of age. 
Sec. 23. 5 MRS A §17852, sub-§16, ~C is enacted to read: 
SENATE AMENDMENT 
SENATE AMENDMENT "\~,, to COMMITTEE AMENDMENT "A" to S.P. 600, L.D. 1693 
C. For members who on June 30, 1993 were not employed in a position that is 
covered under the State Employee and Teacher Retirement Program, the Legislative 
Retirement Program or the Judicial Retirement Program, the retirement benefit is 
determined in accordance with subsection 1 except that the benefit is reduced by 6% 
for each year that the person's age precedes 55 years of age.' , 
Amend the amendment by striking out all of section 15 (page 3, lines 25 to 35 in 
amendment) and inserting the following: 
'Sec. 15. Contingent effective date. Since the Constitution of Maine, Article IX, 
Section 18-A requires the Maine Public Employees Retirement System to be funded 
annually on an actuarially sound basis and prohibits the creation of unfunded liabilities 
except those resulting from experience losses, sections 1 to 25 take effect only if the 
Board of Trustees of the Maine Public Employees Retirement System, pursuant to section 
26, takes an action to reduce the required unfunded liability payment for fiscal year 2007-
08. Within 10 days of the effective date of this Act, the Board of Trustees of the Maine 
Public Employees Retirement System shall notify the Secretary of the Senate, the Clerk 
of the House of Representatives and the Revisor of Statutes whether, pursuant to section 
26, it took an action on or before the effective date of this Act to reduce the required 
unfunded liability payment for fiscal year 2007-08.' 
Amend the amendment by relettering or renumbering any nonconsecutive Part letter 
or section number to read consecutively. 
SUMMARY 
The bill, as amended by Committee Amendment "A", reduces the penalty for early 
retirement from 6% to 3% for members of the state employee and teacher retirement plan, 
the legislative retirement plan and the judicial retirement plan. This amendment limits the 
application of the reduction in penalty to only those employees who were already 
employed in a position that is covered under the State Employee and Teacher Retirement 
Program, the Legislative Retirement Program or the Judicial Retirement Program prior to 
the time the law was changed to increase from 2.25% to 6% per year the penalty for early 
retirement. 
FISCAL NOTE REQUIRED 
(See attached) 
SPONSORED BY: _-i-.1V....::../.>.,LM.>:...WJot~"-~A'--'--._~~~.~_.~_--_--4_ 
(Senator RA YE) 
COUNTY: Washington 
SENATE AMENDMENT 
Approved: 04/08/08 frac... 
LD 1693 
LR 2016(07) 
An Act To Restore Equity to the Maine State Retirement System 
Fiscal Note for Senate Amendment "B" to Committee Amendment "A" 
Sponsor: Sen. Raye of Washington 
Net Cost (Savings) 
General Fund 
Highway Fund 
Appropriations/Allocations 
General Fund 
Highway Fund 
Federal Expenditures Fund 
Other Special Revenue Funds 
Federal Block Grant Fund 
Other Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
2007-08 
$0 
$0 
$0 
$0 
$0 
$0 
$0 
$0 
2008-09 
$0 
$0 
$0 
$0 
$0 
$0 
$0 
$0 
Projections 
2009-10 
($1,913,783) 
($133,987) 
($1,913,783) 
($133,987) 
($204,206) 
($123,070) 
($12,158) 
($94,039) 
Projections 
2010-11 
($2,004,687) 
($140,352) 
($2,004,687) 
($140,352) 
($213,906) 
($128,915) 
($12,736) 
($98,506) 
This amendment reduces the 2008-2009 biennial cost of the bill by $26,100,000 with $25,600,000 being the decreased 
cost to the unfunded actuarial liability and $500,000 being the decreased cost associated with the normal cost 
component for fiscal year 2008-09, 
This amendment reduces the total cost of the bill through June 30, 2028 by $73,584,116, Of that amount, the decrease 
to the unfunded liability payments will be $57,981,299 and the decrease to the normal cost component payments will 
be $15,602,817, 
As amended, reducing the early retirement reduction factor from 6% to 3 % for only those members of the State 
Employee and Teacher Retirement Plan, the Legislative Retirement Plan and the Judicial Retirement Plan who were 
members as of July 1, 1993 and are currently subject to the 6% reduction factor will result in a 2008-2009 biennial 
cost of $70,700,000, with $68,300,000 being the increased cost to the unfunded actuarial liability and $2,400,000 
being the increased normal cost component for fiscal year 2008-09, 
LR20 16(07) - Fiscal Note - Page I of 2 
As amended, because this legislation proposes to fund the current biennium cost of this provision by utilizing a 
portion of the $199,295,540 already appropriated and/or allocated in fiscal year 2007-08 to the Maine Public 
Employees Retirement System (MainePERS) for the employer's contribution to the unfunded liability, no additional 
General Fund appropriation is required in the 2008-2009 biennium. However, based on current projections, reducing 
the amount of funds to be applied to existing unfunded actuarial liability in fiscal year 2007-08 and providing the 
additional benefit will result in total additional payments through June 30, 2028 of $231,953,979. Of that amount, the 
total increase to the unfunded liability payments will be $157,060,456 and the increase to the normal cost component 
payments will be $74,893,523.
LR2016(07) - Fiscal Note - Page 2 of 2