An Act To Clarify The Setting Of Group Life Insurance Coverage Levels Under The Maine Public Employees Retirement System

Summary

The bill updates the definition of “annual base compensation” used to set group life insurance amounts for participants in the Maine Public Employees Retirement System. It requires the figure to come from the employer’s reported earnings on the prior year’s federal wage and tax statement, with a separate rule for new hires or non‑members using the employer’s projected earnings. This creates a consistent basis for determining coverage before retirement.

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