Bill > LD240

This bill modifies a provision of the Maine Public Employees Retirement System (MainePERS) regarding retirement benefits deferral. Specifically, the legislation adds language to clarify that the existing rule about deferring service retirement benefits applies to members with service credit from a participating local district who are retiring under the current retirement chapter. Under the current law, a member who is eligible to retire from multiple plans with different normal retirement ages can choose to defer initiating retirement benefits from a plan where their benefits would be reduced due to not reaching the normal retirement age. The deferral automatically ends when the member reaches the normal retirement age for that plan. The bill ensures that this deferral option, which allows members to receive full benefits without early retirement reductions and without retroactive payments, explicitly extends to members from participating local districts. This change appears to create more consistent application of retirement benefit rules across different types of public employees in Maine's retirement system.

Labor and Employment

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=240&snum=132