An Act To Reinvest In The Pension Funds Of The Maine Public Employees Retirement System
Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
Summary
The bill sets up a non‑lapsing Retirement Improvement Fund within the Maine Public Employees Retirement System. Each year from 2028‑29 to 2031‑32, the state would move a calculated amount from the General Fund into this account to fund benefit increases for retirees and their beneficiaries. The goal is to raise the benefit base used for cost‑of‑living adjustments, but only until it reaches $40,000.
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