Code of Maine Rules
94 - INDEPENDENT AGENCIES
411 - MAINE PUBLIC EMPLOYEES RETIREMENT SYSTEM (MAINEPERS)
Chapter 803 - PARTICIPATING LOCAL DISTRICT CONSOLIDATED RETIREMENT PLAN
Section 411-803-14 - RETIRING AND RETURNING TO WORK

Universal Citation: 94 ME Code Rules ยง 411-803-14
Current through 2024-38, September 18, 2024

If a person who is a recipient of a service retirement benefit under The Plan returns to employment by a participating local district of The Plan in a position for which membership would be mandatory or optional for a new hire, the person continues to receive the service retirement benefit and does not re-enter The Plan as a member. During the period that a retiree is returned to employment, contributions must be remitted to the System by the participating local district in the amount of the greater of (i) 5% of the person's earnable compensation, or (ii) the equivalent of employer and employee unfunded actuarial liability contributions at the aggregate rate on the person's earnable compensation. For purposes of this section, earnable compensation does not include Workers' Compensation earnings paid to the person.

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