Maine Revised Statutes Title 5 Sec. 17252 – Employer contribution
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Terms Used In Maine Revised Statutes Title 5 Sec. 17252
- 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; andA. 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
- Retirement: means termination of membership with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 5 Sec. 17001
On account of each member, the State and each participating local district shall pay annually into the Retirement Allowance Fund an amount equal to a certain percentage of the annual earnable compensation of employees. [PL 1985, c. 801, §§ 5, 7 (NEW).]SECTION HISTORYPL 1985, c. 801, §§5,7 (NEW).