Maine Revised Statutes Title 5 Sec. 18510 – Optional election
Current as of: 2023 | Check for updates
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1. Election. Any beneficiary entitled to a disability retirement benefit under section 1122 of the former retirement system law, as in effect immediately before July 1, 1977, may elect to be governed by this article instead of the law applicable to the disability retirement benefit which he is receiving.
[PL 1985, c. 801, §§ 5, 7 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 18510
- Beneficiary: means a person or persons designated by a member to receive a benefit under this Part or a person otherwise entitled to receive a benefit under this Part. See Maine Revised Statutes Title 5 Sec. 17001
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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
- Chief executive officer: means the Chief Executive Officer of the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001
- Local district: 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 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
2. Manner of election. The election under subsection 1 must be made by written application to the chief executive officer within 6 months after adoption of this article by the participating local district.
[PL 1985, c. 801, §§ 5, 7 (NEW); PL 2021, c. 548, §45 (REV).]
3. Effect of election. If the election under subsection 1 is made, this article shall apply from the date of the beneficiary‘s original eligibility for disability retirement, but any increases in benefits may only be granted from the date of election.
[PL 1985, c. 801, §§ 5, 7 (NEW).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 2021, c. 548, §45 (REV).