Maine Revised Statutes Title 5 Sec. 18203 – Withdrawal of district from participation
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A participating local district may withdraw from further participation in the Participating Local District Retirement Program under the terms and conditions of this section. [PL 2007, c. 491, §184 (AMD).]
1. Procedure. Withdrawal from participation is accomplished by filing with the board a duly certified copy of the vote of the body which would be entitled to approve participation under section 18201.
[PL 1985, c. 801, §§5, 7 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 18203
- 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.
- 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
- Local district: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Month: means a calendar month. See Maine Revised Statutes Title 1 Sec. 72 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 Retirement: means termination of membership with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 5 Sec. 17001
2. Effective date. The withdrawal shall become effective on the last day of the month following the month in which the certified notice is received by the board.
[PL 1985, c. 801, §§5, 7 (NEW).]
3. Amendments. A participating local district that has withdrawn from participation in the Participating Local District Retirement Program may adopt any provision of this Part and amend its plan to reflect adoption of that provision, whether the provision took effect before or after the effective date of the district’s withdrawal. A participating local district withdrawing under this section may not amend its retirement plan except in accordance with this subsection, and any such amendment is effective only with respect to employees of the district who remained in the Participating Local District Retirement Program at the time of the district’s withdrawal.
[PL 2007, c. 491, §185 (AMD).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 1987, c. 256, §22 (AMD). PL 2003, c. 273, §1 (AMD). PL 2007, c. 491, §§184, 185 (AMD).