Maine Revised Statutes Title 5 Sec. 18460 – Discontinuation and substitution of benefits
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A participating local district electing retirement programs under section 18453, subsections 1 to 9, may, by filing with the board a duly certified copy of its action: [PL 1985, c. 801, §§ 5, 7 (NEW).]
1. Discontinue benefits. Discontinue any benefit under any of those subsections to any person qualifying for the benefit who was hired after the effective date of the district’s action; and
[PL 1985, c. 801, §§ 5, 7 (NEW).]
Terms Used In Maine Revised Statutes Title 5 Sec. 18460
- 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
- Local district: means :
A. See Maine Revised Statutes Title 5 Sec. 17001Retirement: means termination of membership with a retirement allowance granted under this chapter. See Maine Revised Statutes Title 5 Sec. 17001
2. Substitution of benefits. Substitute for the discontinued benefit any other benefit provided in this Part.
[PL 1985, c. 801, §§ 5, 7 (NEW).]
SECTION HISTORY
PL 1985, c. 801, §§5,7 (NEW).