An Act to Reinvest
Maine Legislature, Session 132, LD 1872
Committee Amendment CA_A_H465 (House)

COMMITTEE AMENDMENT" A.,, to H.P. 1243, L.D. 1872, "An Act to Reinvest 
in the Pension Funds of the Maine Put'i.ib Employees Retirement System" 
Amend the bill in section 1 in art. 10 in §17445 in subsection 2 in the 3rd line (page 1, 
line 11 in L.D.) by striking out the following: "2030-31 and" and inserting the following: 
'2030-31,' 
Amend the bill in section 1 in art. 10 in§ 17445 in subsection 2 in the 3rd line (page 1, 
line 11 in L.D.) by inserting after the following: "2031-32" the following: 'and 2032-33' 
Amend the bill in section 1 in art. 10 in§ 17445 in subsection 3 in the 3rd line (page 1, 
line 16 in L.D.) by inserting after the following: "liability" the following: 'from the General 
Fund' 
Amend the bill in section 1 in art. 10 in §17445 in subsection 3 in the last line (page 1, 
line 17 in L.D.) by inserting after the following: "2027-28" the following: 'or $185,000.000, 
whichever is lower' 
Amend the bill in section 1 in art. 10 in § 17445 in subsection 5 in the first line (page 
1, line 24 in L.D.) by striking out the following: 
112031 and" and inserting the following: 
'2031.' 
Amend the bill in section 1 in art. 10 in § 17 445 in subsection 5 in the first line (page 
1, line 24 in L.D.) by inserting after the following: 
112032" the following: 'and 2033' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section 
number to read consecutively. 
SUMMARY 
This amendment includes fiscal year 2032-33 in the period of time for General Fund 
revenue to be transfened annually to a nonlapsing fund to be used to pay for retirement 
benefit improvements for retired state employees and teachers and their beneficiaries. It 
also provides that the amount transferred is equal to the difference between the amount of 
the payments made toward the unfunded actuarial liability from the General Fund in the 
Page I - 132LR2244(02) 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" tr to H.P. 1243, L.D. 1872 
year in which the amount is transferred and the amount of those payments for fiscal year 
2027-28 or $185,000,000, whichever is lower. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
• 
Approved: 05/30/25 LRL 
LD 1872 
LR2244(02) 
An Act to Reinvest in the Pension Funds of the Maine Public Employees Retirement System 
Fiscal Note for Bill as Amended by Committee Amendment "j 
Committee: Labor 
ft 
• ;ppropriations/ Allocations 
Other Special Revenue Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
Diverts future revenue - General Fund 
FY 2025-26 
$0 
FY 2026-27 
$0 
Projections 
FY2027-28 
Projections 
FY 2028-29 
$0 
$185,000,000 
Article IX, section 18-B of the Maine Constitution requires that all unfunded actuarial liabilities (UAL) of the Maine 
Public Employees Retirement System (MainePERS) existing as of June 30, 1996 be paid in full by the end of fiscal 
year 2028. Once this occurs, the amount required to be paid by the State towards the UAL will decrease significantly 
and the General Fund portion will become available to be appropriated for other purposes. This bill requires that the 
difference in General Fund dollars between what was required to be paid towards the UAL in 2028 and what is 
required to be paid in fiscal years 2028-29 through 2032-33, or $185.0 million per year, whichever is lower, be 
transferred to a newly created Retirement Improvement Fund within the Maine Public Employees Retirement System 
to be used to pay for retirement benefit improvements. This fiscal note assumes that the average General Fund 
difference in required contributions per year will exceed $185.0 million in fiscal year 2028-29 through fiscal year 
3032-33 and the amount to be transferred to the fund will be $185.0 million per year through that period. 
LR2244(02) - Fiscal Note - Page 1 of 1