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ME LD1025
Bill
AI Summary
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Maine Public Employees Retirement System (MainePERS) members may purchase service credit for prior nonmilitary federal government employment, up to a maximum of 5 years
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Members must pay the actuarial equivalent cost of the additional retirement benefit, including regular interest, calculated at the effective date of retirement
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Payment must be completed before any retirement benefit becomes effective for the member
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Payment options include a single lump-sum direct payment or annual direct payments to the retirement system
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Approved by the Governor on June 9, 2025 as Public Law Chapter 206
Legislative Description
An Act to Allow Federal Civil Service to Count for Purposes of Maine Public Employees Retirement System Benefits
State Retirement System
Last Action
PASSED TO BE ENACTED, in concurrence.
6/2/2025