Maine Revised Statutes Title 5 Sec. 18303 – Certification and payment of contributions
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1. Certification. The board shall certify to the chief fiscal officer of the participating local district:
A. The contributions and pick-up contributions computed under sections 18301 and 18302; [PL 1987, c. 739, §§34, 48 (AMD).]
B. A pro rata share of the cost of the administration of the retirement system, based upon the payroll of the employees; and [PL 1985, c. 801, §§ 5, 7 (NEW).]
C. The cost of each annual valuation. [PL 1985, c. 801, §§ 5, 7 (NEW).]
[PL 1987, c. 739, §§34, 48 (AMD).]
Terms Used In Maine Revised Statutes Title 5 Sec. 18303
- 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
- Department: means any department, commission, institution or agency of State Government including the Maine Community College System. See Maine Revised Statutes Title 5 Sec. 17001
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Local district: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Participating 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 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 Regular interest: means interest at the rate set from time to time by the board in accordance with section 17156. 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 system: means the Maine Public Employees Retirement System. See Maine Revised Statutes Title 5 Sec. 17001
2. Payment and credit. The chief fiscal officer of the participating local district shall make monthly payments to the retirement system in accordance with the board certification under subsection 1. The amounts paid shall be credited to the appropriate funds and accounts of the retirement system.
[PL 1985, c. 801, §§ 5, 7 (NEW).]
3. Delinquent payments. Delinquent payments due under this section:
A. May be recovered by action in a court of competent jurisdiction against the participating local district liable for the payments; [PL 1991, c. 185, §2 (AMD).]
B. May, at the request of the retirement system, be deducted from any other money payable to that participating local district by any department of the State; or [PL 1991, c. 185, §2 (AMD).]
C. May be subject to a late fee as directed by the board and interest at a rate, to be set by the board and paid by the participating local district, not to exceed regular interest by 5 or more percentage points. [PL 1993, c. 387, Pt. A, §16 (AMD).]
[PL 1993, c. 387, Pt. A, §16 (AMD).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW). PL 1987, c. 739, §§34,48 (AMD). PL 1991, c. 185, §§2,3 (AMD). PL 1993, c. 387, §A16 (AMD).