Rules & Rulemaking
MainePERS is in the process of rulemaking on two rules. A brief description of the upcoming rulemaking is as follows:
Chapter 104 – Limitations on Earnable Compensation for Purposes of Calculating Average Final Compensation of State Employee and Teacher Members
This rule implements 5 M.R.S.A. §17001(13)(C), the provisions in the Maine Public Employees Retirement System statute relating to limitations or “caps” on earnable compensation for the purposes of determining average final compensation for state employee and teacher members. Under the current, increases in earnable compensation included in benefit calculations for most state employees and teachers is capped at 5% over the prior year and 10% over of the highest three years used in the average final compensation calculation. The proposed amendment implements the provisions of PL 2019, c. 395, which excludes collectively bargained salary and wage increases and job promotions from the 5%/10% cap. Under the proposed amendment, those increases received in a member’s primary position are excluded from the cap, and increases from a member’s non-primary position are subject to review upon request. The proposed amendment also removes obsolete language.
Public comment related to the proposed amendments to the rule will be received only in writing. Written comments may be submitted via email at [email protected] or through regular U.S. mail at MainePERS, P.O. Box 349, Augusta, ME 04332-0349. Written comments must be received no later than 5:00 p.m. ET on April 16, 2021.
More information regarding this rulemaking can also be found at the Secretary of State’s website at: https://www.maine.gov/sos/cec/rules/notices/2021/031721.html.
Chapter 414 – Required Minimum Distributions
This rule establishes the date when a member must begin to receive a service retirement benefit or withdraw accumulated contributions under a retirement program pursuant to Internal Revenue Code. The proposed rule makes three changes: (1) update the required minimum distribution (RMD) age to correspond to changes in federal law; (2) permit MainePERS to mandate a lump sum RMD on a terminated member as early as the beginning of the year when they will reach RMD age; and (3) provide clarification on the minimum distribution incidental benefit (MDIB) rule.
Public comment related to the proposed amendments to the rule will be received only in writing. Written comments may be submitted via email at [email protected] or through regular U.S. mail at MainePERS, P.O. Box 349, Augusta, ME 04332-0349. Written comments must be received no later than 5:00 p.m. EST on March 19, 2021.
More information regarding this rulemaking can also be found at the Secretary of State’s website at: https://www.maine.gov/sos/cec/rules/notices/2021/021721.html.
The amended rules may be viewed on this web site via the link above, or a copy may be obtained by contacting the Executive Director’s office at 1-800-451-9800 or by email at [email protected].
