Maine Revised Statutes Title 5 Sec. 17254 – Minimum state contribution
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Terms Used In Maine Revised Statutes Title 5 Sec. 17254
- Retirement: 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 system: means the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
The aggregate payment by the State into the Retirement Allowance Fund for state employees and teachers must be at least sufficient, when combined with the amount in the Retirement Allowance Fund, to provide the benefits payable out of the fund and the administrative operating expenses of the Maine Public Employees Retirement System during the current year. [PL 2007, c. 58, §3 (REV); PL 2007, c. 240, Pt. U, §7 (AMD).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 2007, c. 58, §3 (REV). PL 2007, c. 240, Pt. U, §7 (AMD).