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Maine Public Employees Retirement System
P.O. Box 349, Augusta, ME 04332-0349
toll free: (800) 451-9800 ● local: (207) 512-3100

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Pension Information

 

MainePERSpective: Special Legislative Edition Have a question about legislation? Submit it here.
   
Changes to the State/Teacher, Legislative and Judicial Retirement and Retiree Health Plans
   
2011 Pension Cost Reports 
   
2010 Unified Retirement Plan Task Report  
     

 

Changes to the State/Teacher, Legislative and Judicial Retirement and Retiree Health Plans

 

The following changes to retirement plans for Teachers, State Employees, Legislators and Judges have been enacted by the Legislature:

 

The age at which most new hires and members with less than 5 years of service on July 1, 2011 are eligible to retire will change from 62 to 65. Members may be able to purchase other types of service in order to remain in the Age 62 plan. This does not apply to State employees covered by a “special plan”.
   
State employees or teachers who are 1) normal retirement age; 2) retire after September 1, 2011; and 3) return to work in a position covered by the State/Teacher retirement plan may work no more than 5 years and only at a salary not more than 75% of the salary established for the position. Retirees must wait 30 days before returning to work. Substitute teachers are exempt from this provision.
   
Retiree Health: State employees who retire after January 1, 2012 and teachers who retire after July 1, 2012 will pay 100% of health insurance premiums until the member reaches normal retirement age. This does not apply to individuals while they receive a disability retirement benefit. It also does not apply to State employees who are covered by a “special plan".
   

2011 Pension Cost Reports 
2011 Pension Cost Report
 
  May 24, 2011 Pension Plan Costs and Funding Letter
   
  March 30, 2011 Letter to Appropriations Committee - Response to Committee Questions
   

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Information contained on this Web site is neither a legal reference nor a complete statement of the laws or MainePERS administrative rules. In any conflict between this information and Maine laws or administrative rules, the laws and administrative rules shall prevail.

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