Whatever your age, it's the
right time to talk about retirement!
Whether you are
new to retirement planning or
approaching your retirement age, our
onlineInformation Requestpage offers
you an easy way
to get the
information you need.
The MainePERS Board of Trustees set the 2014
cost-of-living adjustment (COLA) at their August
meeting. Based on the law, they voted to set
the COLA at 2.1% for 2014. The
three-year freeze on COLAs expired in 2013. This
means that for eligible retirees, a COLA
increase of 2.1% will resume this September,
based on the Consumer Price Index for Urban
Consumers (CPI-U) as of June 30, 2014.
protect your personal information, we do not process address changes over
the phone for retirees and/or benefit recipients. If your address has
changed or is going to change, please let us know by completing a Member/Benefit Recipient Data
Update form and sending it to MainePERS.
Although MainePERS may deduct health and/or dental insurance premiums from
your benefit payment each month, we do not administer these programs. For
health/dental insurance questions, please contact the administrator of your
insurance program. To view a list of those organizations, click here.
MainePERS sends an advice when the gross amount of your benefit payment
changes by $1.00 or more. You may also contact your bank to confirm your
deposit amount. We also send an advice each December, which includes
year-end totals you may need to prepare your taxes. For the schedule of
benefit payment dates and more details, click here.
When you can retire depends on your retirement plan. In most cases, you can
retire at age 60, 62 or 65, with at least one year of creditable service
immediately before you have reached your plan's normal retirement age. You
can retire at any age, if you have at least 25 years of creditable service.
See General Retirement
The amount of your MainePERS service retirement benefit is not affected by
receiving Social Security retirement benefits. If you are eligible for
Social Security retirement benefits, either because you worked in a Social
Security-covered job or because your deceased spouse did, the amount of your
Social Security benefit may be affected by your receipt of a MainePERS
benefit. For more information about the effect of receiving MainePERS
benefits and Social Security benefits, go to
terminate all MainePERS-covered employment, you may withdraw the money you
contributed. You do not receive contributions your employer made on your
Contact MainePERS for a
Refund Application Package or click here for a
downloadable version. MainePERS does not permit partial refunds. By
refunding your contributions, you give up your rights to any MainePERS
benefits. Since it may not be in your best interest to withdraw your
contributions, we suggest you investigate the pros and cons of taking a
refund. For more information, see the “Taking a Refund” in the member handbook
specific to your plan.
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.