The Disability Working Group will be holding remote meetings beginning on September 15, 2022. For more information, including meeting dates and times, and how to observe, please click here.
Employer and member contributions along with long-term investment returns are essential to the sound funding of the defined benefit retirement programs administered by MainePERS. Read more about Investments.
MainePERS supports the legislature and other governing bodies through the implementation of laws and rules. Information on laws and rules about MainePERS plans and current and past legislation can be found here.
MainePERS provides an annual cost of living adjustment (COLA) for eligible benefit recipients in September of each year. The amount is determined by statute and rule and differs for the various plans MainePERS administers.
All COLAs are based on the Consumer Price Index – Urban Consumers (CPI-U) for the twelve months ending June 30th each year. The Board of Trustees adopts the CPI-U as of June 30th up to 3.0% of the base benefit, currently $24,911.84, for State, Teacher, Legislative, and Judicial Retirement Program eligible retirees and up to 2.5% of the total benefit for eligible Participating Local District (PLD) Consolidated Plan retirees.
The 2023 CPI-U is 3.0%. Information regarding the 2023 CPI-U can be found on the Bureau of Labor Statistics, U.S. Department of Labor website at https://www.bls.gov/news.release/cpi.nr0.htm.
The Board of Trustees adopted the increase in COLA rates allowable under statute and rule at its meeting on Thursday, August 10, 2023. The increase will be included in benefit payments beginning in September 2023.
The recently passed Maine State Government budget (Public Law Chapter 412, Part HHHHH) included a one-time Cost of Living Adjustment (COLA) payment for eligible retirees who receive monthly payments through State-sponsored retirement plans, (state employees, teachers, judges, and legislators).
Eligible retirees will receive a payment equaling 3% of their yearly benefit for the period ending August 31, 2022 up to a maximum of 3% of the 2022 COLA base, $24,186.25. The 3% does not apply to any benefit received in excess of this COLA base amount.
This one-time payment applies to retirees who were eligible for a cost-of-living adjustment in September 2022. It is a one-time payment and will not be included in the calculation of future benefit adjustments.
This law becomes effective in late October, therefore the additional one-time payment will be part of the retiree payroll processed in November. It may appear as a separate payment and retirees may receive an advice of deposit specific to this one-time payment.
MainePERS is planning to launch a secure online Member Portal as soon as fall 2023 for active and retired members that will offer convenient access to their MainePERS account information. This online portal will be rolled out in phases over a period of months. Additional details, including how to login, will be provided as each phased grouping is invited to participate. Find out more about the MainePERS Member Portal.
MainePERS has temporarily revised its business hours to Monday through Thursday from 8:00 a.m. to 4:00 p.m. for reaching Member Services Representatives by telephone and in person lobby services.
MainePERS, similar to many organizations, is experiencing staffing challenges in the current labor market. This adjustment of our hours will allow our limited staff the opportunity on Fridays to focus on responding to pending member, retiree, and beneficiary requests in a more timely manner.
Contacting MainePERS via email remains an option through our MainePERS Directory and we continue to offer a secure email system via Zixmail for sending communications that include sensitive information.
For those who prefer to use the postal service, documents or forms may be mailed to MainePERS, P.O. Box 349, Augusta, ME 04332-0349. A secure drop box is also available at our lobby entrance to drop off any completed forms or other documents.
We look forward to assisting you.
Information about rulemaking can be found here.
Click here to see a current list of MainePERS requests for proposals (RFPs).