Maine Revised Statutes Title 5 Sec. 17851-B – Special plan for fire marshal investigators and fire marshal sergeants
Current as of: 2023 | Check for updates
|
Other versions
1. Establishment and applicability. Effective July 1, 2020, there is established a special retirement plan for fire marshal investigators, fire marshal senior investigators, fire marshal sergeants and assistant state fire marshal-investigations, referred to in this section as “the special plan.” The special plan applies to a state fire marshal investigator, state fire marshal senior investigator, state fire marshal sergeant and assistant state fire marshal-investigations.
[PL 2021, c. 398, Pt. LLL, §2 (AMD).]
Terms Used In Maine Revised Statutes Title 5 Sec. 17851-B
- 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
- Average final compensation: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Benefit: 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 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 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. 17001Member: 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 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 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 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 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 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 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Qualification for benefits. A member employed in any of the positions specified in subsection 1 qualifies for a service retirement benefit after completing 20 years of creditable service in that capacity, whether or not the creditable service included in determining that the 20-year requirement has been met was earned under the special plan established in this section or prior to its establishment.
[PL 2019, c. 482, §2 (NEW).]
3. Purchase of service credit to be used for qualification for benefits. This subsection governs the use of purchased service credit in order to qualify for benefits under this section. For the purpose of meeting the qualification requirement of subsection 2:
A. Service credit purchased by repayment of an earlier refund of accumulated contributions following termination of service is included if the time to which the refund relates was served in any one or a combination of the positions specified in subsection 1, regardless of whether the time was served before or after the establishment of the special plan; and [PL 2019, c. 482, §2 (NEW).]
B. Service credit purchased other than as provided under paragraph A is not included. [PL 2019, c. 482, §2 (NEW).]
[PL 2019, c. 482, §2 (NEW).]
4. Computation of benefits. The amount of the service retirement benefit for members qualified under subsection 2 is 1/2 of the person’s average final compensation and an additional 2% of the person’s average final compensation for each year of membership service not included in determining qualification under subsection 2.
[PL 2019, c. 482, §2 (NEW).]
5. Contributions. Notwithstanding any other provision of subchapter 3, after June 30, 2020, a member in a position specified in subsection 1 shall contribute to the State Employee and Teacher Retirement Program or have pick-up contributions made at the rate of 8.65% of earnable compensation until the member has completed 20 years of creditable service as provided in this section and at the rate of 7.65% thereafter.
[PL 2019, c. 482, §2 (NEW).]
SECTION HISTORY
PL 2019, c. 482, §2 (NEW). PL 2021, c. 398, Pt. LLL, §2 (AMD).