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126th Maine
Legislative Session
2013 Program Evaluation Report

Proposed Plan 2 Implementation Report

Proposed Pension Plan Draft Legislation
Prior Legislative
Session Information

New Pension Plan Design and Implementation Plan
Additional Pension Information and Reports


QuestionHave a question about legislation? Click here.


 
 Whatever your age, it's the right time to talk about retirement!
Info

Whether you are new to retirement planning or approaching your retirement age, our online Information Request page 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. More information follows or for more details, click the COLA Update button below.
COLA  

 

September 2014 COLA Payments at a Glance

State/Teacher, Legislative and Judicial Plan Recipients:

 

 

2014 COLA: Regular COLA Increases Resume:

 

WHO:  Those receiving a monthly State/Teacher, Legislative or Judicial benefit and are eligible for COLA in 2014.

 

WHAT: Permanent Increase to Monthly Benefit

 

WHEN: Paid as a part of your monthly benefit, beginning September 2014

 

HOW:  2.1% paid on first $20,000 of benefit; maximum $420 annual increase.  

 

2013 COLA: Final One-Time COLA Payment

 

WHO: Those receiving a monthly State/Teacher, Legislative or Judicial benefit and were eligible for COLA in 2013.

 

WHAT: One-Time COLA Payment

 

WHEN: The COLA will be paid in a lump sum on Friday, September 19, 2014. Payment will be deposited into the same account or mailed to the same address as your regular monthly benefit payment.

 

HOW: Paid on first $30,000 of benefit, based on the 2013 CPI-U, up to 1.8% ($540.00 maximum)  

NOTE:  Some recipients will be eligible for both the Regular COLA increase and the Final One-Time COLA payment in September 2014.

 

 

 

PLD Plan Recipients:  Regular COLA increases continue in 2014:

 

WHO:  Those receiving a monthly PLD benefit and are eligible for COLA in 2014.

 

WHAT: Permanent Increase to Monthly Benefit

 

WHEN: Paid as a part of your monthly benefit, beginning September 2014.

 

HOW:  2.1% paid on the retiree's current benefit.


GASB   GASB
Click here for important information regarding GASB Statement Nos. 67 and 68.

 PLD   LEGISLATION
Detailed information about Legislative changes to the PLD Consolidated Plan that were implemented in 2014 can be found here.

 
I want to... RETIREES
...change my mailing address.
...change my tax exemptions/allowances.
...get health insurance information.
...return to work after retirement.
...know when my payment is deposited.
[see also FAQs.]
 
MEMBERS I want to...
...find out about my contributions and time.
...borrow money from my retirement.
...know when I can retire.
...learn about Social Security and MainePERS
...receive a refund of my contributions.
[see also FAQs.]
News
Fall 2014 Newsletter

Thinking Retiring
New Employees
Savings

MaineSTART 


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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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