Maine Revised Statutes Title 5 Sec. 17152 – Funds
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The board may combine the assets of the State Employee and Teacher Retirement Program with the assets of other retirement programs of the retirement system for investment purposes. The assets of the State Employee and Teacher Retirement Program may not be combined with the assets of another retirement program for benefit purposes or for administrative expenses. All of the assets of the retirement system must be credited according to the purpose for which they are held among the several funds created by this section, namely: [PL 2017, c. 88, §19 (AMD).]
1. Members’ Contribution Fund. The Members’ Contribution Fund; and
[RR 2015, c. 2, §3 (COR).]
Terms Used In Maine Revised Statutes Title 5 Sec. 17152
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Benefit: means any payment made, or required to be made, to a beneficiary under chapter 423, subchapter V or chapter 425, subchapter V. See Maine Revised Statutes Title 5 Sec. 17001
- Board: means the board of trustees, established under section 12004?F, subsection 9, to administer the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001
- Employee: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Retirement: means termination of membership with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 5 Sec. 17001 Retirement allowance: means the retirement payments to which a member is or may be entitled as provided in this Part. See Maine Revised Statutes Title 5 Sec. 17001 Retirement benefit: means the same as retirement allowance. See Maine Revised Statutes Title 5 Sec. 17001 Retirement system: means the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001 State employee: means any regular classified or unclassified officer or employee in a department, any employee of the Maine Community College System except those who make the election provided under Title 20?A, section 12722, any employee of the Maine Educational Center for the Deaf and Hard of Hearing and the Governor Baxter School for the Deaf except as provided in Title 20?A, section 7407, subsection 3?A, any employee of the Maine Military Authority, any employee of the Northern New England Passenger Rail Authority, any employee of the Maine Port Authority, any employee of the Efficiency Maine Trust who on June 30, 2009 is an employee of the Public Utilities Commission energy efficiency or renewable energy programs who elects to remain a state employee, any employee of the Efficiency Maine Trust who accepts employment with the Efficiency Maine Trust prior to July 1, 2010 who was a state employee immediately prior to accepting such employment who elects to remain a state employee and any employee transferred from the Division of Higher Education Services to the Finance Authority of Maine who elects to be treated as a state employee, but does not include:
A. See Maine Revised Statutes Title 5 Sec. 17001Teacher: includes a person who is on a one-year leave of absence from a position as a teacher and is participating in the education of prospective teachers by teaching and supervising students enrolled in college-level teacher preparation programs in this State. See Maine Revised Statutes Title 5 Sec. 17001
2. Retirement Allowance Fund. The Retirement Allowance Fund.
[PL 2015, c. 385, §6 (AMD).]
3. Expense Fund.
[PL 2015, c. 385, §7 (RP).]
4. Survivors’ Benefit Fund.
[PL 2007, c. 249, §12 (RP).]
5. State Retiree Health Insurance Fund.
[PL 2007, c. 249, §13 (RP).]
6. State Retired Teachers’ Health Insurance Fund.
[PL 2007, c. 249, §14 (RP).]
7. Disability Retirement Benefit Fund.
[PL 2007, c. 249, §15 (RP).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 1989, c. 409, §§3,12 (AMD). PL 1995, c. 368, §G6 (AMD). PL 2007, c. 249, §§12-15 (AMD). RR 2013, c. 2, §6 (COR). PL 2013, c. 602, Pt. A, §1 (AMD). RR 2015, c. 2, §3 (COR). PL 2015, c. 385, §§6, 7 (AMD). PL 2017, c. 88, §19 (AMD).