Maine Revised Statutes > Title 5 > Part 20 > Chapter 421 > Subchapter 4 > Article 9 – Retiree Health Insurance Post-Employment Benefits Investment Trust Fund
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Terms Used In Maine Revised Statutes > Title 5 > Part 20 > Chapter 421 > Subchapter 4 > Article 9 - Retiree Health Insurance Post-Employment Benefits Investment Trust Fund
- accumulated contributions: includes as much of the employer's contribution in the Retirement Allowance Fund as is needed to reach 7. See Maine Revised Statutes Title 5 Sec. 17001
- Actuarial equivalent: means an amount of equal value when computed at the discount rate contained in actuarial assumptions adopted by the board. See Maine Revised Statutes Title 5 Sec. 17001
- Actuary: means the individual or the organization designated by the board to be the technical advisor to the board under section 17107. See Maine Revised Statutes Title 5 Sec. 17001
- Adult: means a person who has attained the age of 18 years. See Maine Revised Statutes Title 1 Sec. 72
- Agricultural products: include floricultural, horticultural, viticultural, forestry, nut, dairy, livestock, poultry, bee and any farm products. See Maine Revised Statutes Title 13 Sec. 1774
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Annual base compensation: means a member's gross compensation, based upon amounts reported by the member's employer on the member's previous year's federal wage and tax statement, that is used the first day of each April for setting the amount of coverage prior to retirement for participants in the group life insurance program administered by the board. See Maine Revised Statutes Title 5 Sec. 17001
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Articles: means the articles of incorporation. See Maine Revised Statutes Title 13 Sec. 1774
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Assets of the investment trust fund: means the funds appropriated or otherwise provided to fund the investment trust fund, together with the interest, earnings and returns on the funds. See Maine Revised Statutes Title 5 Sec. 17431
- Association: means a corporation organized under this subchapter, or a similar domestic corporation, or a foreign association or corporation if authorized to do business in this State, organized under any general or special Act as a cooperative association for the mutual benefit of its members, as agricultural producers, and which confines its operations to purposes authorized by this subchapter and restricts the return on the stock or membership capital and the amount of its business with nonmembers to the limits placed thereon by this subchapter for associations organized hereunder. See Maine Revised Statutes Title 13 Sec. 1774
- Association of producers: means any association of producers of agricultural products organized and existing under this subchapter. See Maine Revised Statutes Title 13 Sec. 1955
- Average final compensation: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Beneficiary: 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 Board: means the board of directors. See Maine Revised Statutes Title 13 Sec. 1774 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 Board: means the Maine Agricultural Bargaining Board provided for in this Article. See Maine Revised Statutes Title 13 Sec. 1955 Chief executive officer: means the Chief Executive Officer of the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001 Child: means any natural or legally adopted, born or unborn, progeny of a member. See Maine Revised Statutes Title 5 Sec. 17001 Code: means the United States Internal Revenue Code of 1986, as amended. See Maine Revised Statutes Title 5 Sec. 17001 Commissioner: means the Commissioner of Administrative and Financial Services. See Maine Revised Statutes Title 5 Sec. 17431 Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. Contract: A legal written agreement that becomes binding when signed. Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. Creditable service: means a person's membership service, the person's prior service and service for which credit is allowable under sections 17755 and 17756; section 17760, subsection 3; section 18258; sections 18355 and 18356; and section 18360, subsection 2. See Maine Revised Statutes Title 5 Sec. 17001 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Deed: The legal instrument used to transfer title in real property from one person to another. Department: means any department, commission, institution or agency of State Government including the Maine Community College System. See Maine Revised Statutes Title 5 Sec. 17001 Dependent: A person dependent for support upon another. Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. Dismissal: The dropping of a case by the judge without further consideration or hearing. Source: Domestic association: means an association or corporation formed under the laws of this State. See Maine Revised Statutes Title 13 Sec. 1774 Earnable compensation: includes :
(1) Workers' compensation benefits;
(2) Maintenance, if any;
(3) Any money paid by an employer to a 3rd party under a tax sheltered annuity contract or a deferred compensation plan for the future benefit of an employee provided that the money is not derived from amounts excluded from earnable compensation by paragraph B; and
A. See Maine Revised Statutes Title 5 Sec. 17001Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Executive body: means the official or body of officials who, in their official capacity, have the general powers and duties of administering, supervising and managing the affairs of an organization or governmental unit. See Maine Revised Statutes Title 5 Sec. 17001 Executor: A male person named in a will to carry out the decedent Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Foreign association: means an association or corporation not formed under the laws of this State. See Maine Revised Statutes Title 13 Sec. 1774 Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Handler: means any person engaged in the business or practice of:
A. See Maine Revised Statutes Title 13 Sec. 1955in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72 Independent agricultural contractor: means a person who grows under contract, or who harvests or hauls forest products under contract, as the person's primary activity or as part of a general agricultural activity. See Maine Revised Statutes Title 13 Sec. 1774 Investment trust fund: means the Retiree Health Insurance Post-employment Benefits Investment Trust Fund established in section 17432. See Maine Revised Statutes Title 5 Sec. 17431 Investment trust fund agreement: means the trust agreement to be entered into by the State and the trustees of the investment trust fund. See Maine Revised Statutes Title 5 Sec. 17431 Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants. Local district: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Majority: when used in reference to age shall mean the age of 18 and over. See Maine Revised Statutes Title 1 Sec. 72 Marketing contract: includes a contract related to the marketing of agricultural products and a contract by an independent agricultural contractor for furnishing services and facilities in raising or growing agricultural products. See Maine Revised Statutes Title 13 Sec. 1774 Member: means any person included in the membership of a retirement program of the retirement system, as provided in chapter 423, subchapter 2, or chapter 425, subchapter 2. See Maine Revised Statutes Title 5 Sec. 17001 Member: includes the holder of a membership in an association without capital stock and the holder of common stock in an association organized with capital stock. See Maine Revised Statutes Title 13 Sec. 1774 Membership service: means service rendered while a member of a retirement program of the retirement system on account of which contributions are made and for which credit is allowable under chapter 423, subchapter 4 or chapter 425, subchapter 4. See Maine Revised Statutes Title 5 Sec. 17001 Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72 Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72 Normal retirement age: means the specified age, the years of service requirement or any combination of age and years of service requirements at which a member becomes eligible for retirement benefits and at which those benefits may not be reduced under section 17852, subsection 3 or 3?A; section 17852, subsection 10, paragraph C; and section 18452, subsection 3. See Maine Revised Statutes Title 5 Sec. 17001 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. Out-of-state service: means service rendered as an employee of:
A. See Maine Revised Statutes Title 5 Sec. 17001Parent: means mother or father. See Maine Revised Statutes Title 5 Sec. 17001 Participating local district: means a local district that has approved the participation of its employees in the Participating Local District Retirement Program of the retirement system under section 18201. See Maine Revised Statutes Title 5 Sec. 17001 Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: includes one or more individuals, partnerships, corporations and associations. See Maine Revised Statutes Title 13 Sec. 1955 Person: includes an individual, a partnership, a corporation and an association. See Maine Revised Statutes Title 13 Sec. 1774 Pick-up contributions: means member contributions to the retirement system which are assumed and paid by the employer through a reduction of members' salaries for services rendered, in accordance with the United States Internal Revenue Code, Section 414(h), in lieu of employee contributions. See Maine Revised Statutes Title 5 Sec. 17001 Prior service: means service rendered before the date of establishment of the retirement system as set forth in section 17101. See Maine Revised Statutes Title 5 Sec. 17001 Producer: means a person engaged in the production of agricultural products as a farmer, planter, rancher, poultry farmer, dairy farmer, fruit, vegetable or nut grower, or independent agricultural contractor as specified in section 1774, subsections 6?A and 8?A. See Maine Revised Statutes Title 13 Sec. 1955 Producers: includes independent agricultural contractors. See Maine Revised Statutes Title 13 Sec. 1774 Public school: includes :
(1) Any public school conducted within the State under the authority and supervision of a duly elected board of education, superintending school committee or school directors; and
(2) Any school which received any direct state aid in 1950 and municipal tuition funds amounting to at least the amount of that state aid during 1950. See Maine Revised Statutes Title 5 Sec. 17001Qualified association: means an association of producers accredited in accordance with section 1957. See Maine Revised Statutes Title 13 Sec. 1955 Quorum: The number of legislators that must be present to do business. Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Regular interest: means interest at the rate set from time to time by the board in accordance with section 17156. See Maine Revised Statutes Title 5 Sec. 17001 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Retirement: 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 Service: means service as an employee for which compensation was paid. See Maine Revised Statutes Title 5 Sec. 17001 Service credit: means credit received for creditable service as defined under subsection 10. See Maine Revised Statutes Title 5 Sec. 17001 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. 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. 17001Statute: A law passed by a legislature. Subpoena: A command to a witness to appear and give testimony. System: means the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17431 Teacher: 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 Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. This subchapter: means the "Uniform Agricultural Cooperative Association Act. See Maine Revised Statutes Title 13 Sec. 1774 Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Town: includes cities and plantations, unless otherwise expressed or implied. See Maine Revised Statutes Title 1 Sec. 72 Trustee: A person or institution holding and administering property in trust. United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72