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ME LD900
Bill
AI Summary
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Increases the maximum annual cost-of-living adjustment (COLA) for Maine Public Employees Retirement System benefits from 3% to 4% for fiscal year 2026-27 only, then to 5% beginning July 1, 2028
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Raises the portion of retirement benefits eligible for COLA increases from $24,186.25 to $40,000 effective July 1, 2026
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Further increases the COLA-eligible benefit cap to $50,000 effective July 1, 2028, with that amount indexed for inflation in subsequent years
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Applies to retired state employees, teachers, and their beneficiaries
Legislative Description
An Act to Protect State Retiree Pensions from Inflation
State Retirement System
Last Action
CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
6/25/2025