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 Whether
you are beginning your career, or you previously worked in a
MainePERS-covered position, we welcome your membership in
the Maine Public Employees Retirement System (MainePERS) and
the opportunity to help you with your retirement plan. This
Web site contains information that can help you understand
your retirement plan and answer many of your questions. Be
sure to check back frequently for ongoing news, retirement
system updates and more. Below are topics covered in the
Welcome Booklet which you should receive at your home
address soon after becoming a member.
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Who We Are |
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Publications and Informational Meetings |
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Retirement |
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Question & Answer |
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Group Life Insurance |
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MainePERS and Social Security |
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Disability |
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Health
Insurance |
Contact us at any time with any questions you have regarding
your MainePERS retirement plans and programs.
Who We Are
Since 1942, MainePERS has helped public employees prepare
for retirement. The System's contributing members include
teachers,
state,
county and municipal employees,
legislators,
judges, and those who work for other public entities. In
addition to our active members, many public sector retirees
and their beneficiaries receive monthly benefits from
retirement plans offered by MainePERS.
The System also administers
Disability Retirement,
Group Life Insurance, and
MaineSTART, a tax-deferred retirement savings program.
The System's
Board of Trustees is responsible for the operation of
the System. The eight member board includes member,
retirees, and others expert in retirement, investment, and
finance. The Board contracts with national actuarial and
investment experts who assist the Board to manage the
System's more than $8 billion in assets and to determine
future funding requirements.
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Retirement Defined Benefit
Plan
Since our creation in 1942, one of the hallmarks of the
MainePERS retirement program has been the Defined Benefit
Plan. A Defined Benefit (DB) pension plan guarantees you an
income after you retire, based on your years of service,
level of compensation, and the age at which you retire. As a
member, you contribute a percentage of your earnings to
MainePERS, and these contributions earn interest at a rate
set by MainePERS Board of Trustees. The amount you
contribute depends on your membership plan. Your MainePERS
membership ends upon your retirement, upon your death, or if
you take a refund of your contributions.
Key Advantages of Your Defined Benefit Plan
• Your age, three highest years of salary, length of
service, and a multiplier (for example, 2% for each year
of service) determine your benefit. Your benefit isn't
affected by the ups and downs of investment returns.
• When you retire you are eligible to choose one of many
options offering a lifetime benefit.
• Early Vesting - You are vested after only five years of
service. Being vested means that you have met the creditable
service requirement that will allow you to receive a monthly
benefit upon retirement at the normal retirement age under
your plan. This option protects your pension coverage even
if you decide to leave your MainePERS-covered position.
• Death Benefits - Benefits are available to your survivors
if you die before you retire.
• Sound Investment Policies - The System's assets are
managed, under the direction of the Board of Trustees, by
investment professionals experienced in advising large
institutions.
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Group Life Insurance
MainePERS Group Life Insurance program is available to all
State and teacher members, and to eligible PLD employees
whose employers participate in the program.
Enrollment and Premium Payment Procedures
You enroll by completing the Group Life Insurance
Application. If a premium is required, your employer will
withhold it from your pay and forward to Maine Public
Employees Retirement System. If you apply for group life
coverage within the first 31 days of becoming eligible, you
may select coverage for yourself and your dependents without
having to show evidence of insurability.
Coverage Levels
You may choose basic and supplemental coverage on yourself,
and dependent coverage for your eligible dependents. Basic
coverage is equal to your annual gross compensation rounded
up to the next one thousand dollars. Supplemental coverage
is available at one, two or three times your basic coverage.
Basic insurance also includes Accidental Death and
Dismemberment coverage. Dependent coverage allows you to
choose up to $10,000 of coverage on your spouse and up to
$5,000 on each child depending on their age and marital
status.
Beneficiary(ies)
You may change your life insurance beneficiary as often as
you wish by filing a written request with Maine Public
Employees Retirement System. Designation of Beneficiary
forms are available from your payroll personnel, the Forms
section, or by
contacting MainePERS. In order for a change of
beneficiary form to be valid, it must be received at
MainePERS, or postmarked, prior to your date of death.
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Disability
One of the benefits available to you as a member of
MainePERS is the disability retirement program. Eligible
members with a long-term disability receive an income
benefit and continue to accrue creditable service until they
are able to return to employment.
Who is Eligible
Members must show that they have a permanent mental or
physical incapacity that makes it impossible for them to
perform the duties of their employment position, or another
position of comparable stature and compensation offered to
them by the employer. In addition, MainePERS looks to see
whether there are modifications that would allow the
applicant to perform the duties of the employment position.
A list of eligibility requirements is available on the
Disability FAQ page.
How to Apply
To apply for disability benefits please request a Disability
Retirement Benefits Application Package by calling us at
1-800-451-9800; (207) 512-3100; or TTY (207) 512-3102.
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Publications and Informational
Meetings
Member Booklets
These are available in the
Publications section--they are intended to give you a general
understanding of benefits available under your plan ( State,
Teacher or Participating Local District).
Newsletter
MainePERS publishes
MainePERSpective several times a
year. The newsletter is a good source of timely information
for members, employers and retirees.
Member Statements
MainePERS sends annual Member Statements to most members.
The statement shows the amount of retirement service credit,
retirement plan, normal retirement age, known purchasable
service, as well as current beneficiary information. The
Member Statement information is intended to help you plan
for your own retirement.
New Employee Orientation
Many employers sponsor orientation for new employees and
invite MainePERS to present information about the Retirement
System. This is a good opportunity to learn more about the
benefits and services of MainePERS membership. (Note: For
additional training and retirement planning, see the member
pages on this Web site specific to your plan.)
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Question & Answer
Q: How do I notify MainePERS when my address
changes?
A: For your protection, MainePERS requires your
written and signed authorization to change your address.
Complete the
Member Data Update form.
Q: Can I find out how much money I have put into the
Retirement System and/or how much creditable service time I
have on record?
A: Yes. Call or write to MainePERS to request this
information and we will send you a Statement of Account
showing how much money you have put into the Retirement
System and a statement of your creditable service. You will
need to give your name and social security number when you
call. If you are thinking about taking a refund of your own
contributions, you need to be sure you understand the value
of what you would be giving up. We can help identify what to
consider.
Q: Can I buy time toward my retirement and receive
additional service credit?
A: The law identifies a number of categories of
service (e.g. military service, time in the Peace Corps)
which you may be eligible to purchase as additional
MainePERS service credit, provided you meet eligibility
requirements. For more information, visit the Publications
section of the site and click on the member handbook
specific to the plan under which you are covered.
Q: Are there points when I should contact MainePERS?
A: Yes! Certain events in your life may affect your
retirement or beneficiary designations. It is important that
you notify MainePERS immediately when the following life
changing events occur:
• Termination of employment
• Birth/adoption of a child
• Marriage, divorce, legal separation, annulment
• Death of spouse or dependent
• An employment status change for you
• A court order results in the gain or loss of a dependent
Note: To ensure that all information is up-to-date, members
should periodically review their Designation of Beneficiary
forms for
both pre-retirement death benefits and Group Life Insurance.
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MainePERS and Social Security
If you are eligible to receive 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 if you
receive a MainePERS benefit.
The Social Security provisions that could affect you are the
windfall elimination provision (Social Security benefits
from your own work) and the government pension offset
((Social Security benefits as a spouse or widow(er)).
To obtain information about any effect from receiving
MainePERS benefits on your Social Security benefits, please
contact SSA directly at
www.ssa.gov.
You can locate the SSA office nearest you by referring to
your local phone book under "United States Government -
Health and Human Services". Though we recommend that you
work with a Claims Representative from your local SSA
office, you can alternatively contact SSA via their national
toll-free number at 1-800-772-1213.
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Health Insurance
Health Insurance and MainePERS
Q. Where can I get information about my health and/or
dental insurance?
A. MainePERS does not handle any health
insurance program. All questions regarding health insurance
should be directed to the administrators of the various
health insurance programs under which members are covered.
These are listed
here for your convenience.
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