Maine Revised Statutes Title 5 Sec. 17202 – Deduction adjustments
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 5 Sec. 17202
- 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
- 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(4) Pick-up contributions. See Maine Revised Statutes Title 5 Sec. 17001
- 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
In order to facilitate the making of deductions, the board may modify the deduction required of any member by an amount that does not exceed 1/10 of 1% of the member’s annual rate of earnable compensation. [PL 1985, c. 801, §§ 5, 7 (NEW).]SECTION HISTORYPL 1985, c. 801, §§5,7 (NEW).