Maine Revised Statutes Title 5 Sec. 17804 – Methods of payment
[PL 1987, c. 256, §9 (AMD).]
Terms Used In Maine Revised Statutes Title 5 Sec. 17804
- 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
- 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
- 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
- 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 trustees, established under section 12004?F, subsection 9, to administer the Maine Public Employees Retirement System. 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
- Entitlement: 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.
- 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
- Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72
- qualifying member: means :
[PL 1985, c. 801, §§5, 7 (NEW); PL 2021, c. 548, §45 (REV).]
[PL 1985, c. 801, §§5, 7 (NEW); PL 2021, c. 548, §45 (REV).]
[PL 1985, c. 801, §§5, 7 (NEW); PL 2021, c. 548, §45 (REV).]
[PL 1999, c. 744, §7 (RP); PL 1999, c. 744, §17 (AFF).]
[PL 2021, c. 548, §21 (AMD).]
[PL 2021, c. 548, §22 (AMD).]
[PL 2021, c. 548, §23 (AMD).]
[PL 2021, c. 548, §24 (AMD).]
[PL 2001, c. 118, §4 (AMD).]
[PL 2021, c. 548, §25 (AMD).]
[PL 1989, c. 95, §10 (NEW).]
[PL 2021, c. 548, §§26, 27 (AMD); PL 2021, c. 548, §45 (REV).]