MaineAn Act To Reinvest In The Pension Funds Of The Maine Public Employees Retirement System
The amendment would set aside yearly General Fund revenue for benefit improvements for retired state employees, teachers, and their beneficiaries through fiscal year 2032-33.
What it does
The amendment would send yearly General Fund revenue to a fund for benefit improvements for retired state employees, teachers, and their beneficiaries. The amount would follow a formula capped at $185 million.
Argument forThe transfers could help pay for benefit improvements for retired state employees, teachers, and their beneficiaries.
Argument againstSetting aside General Fund revenue for retirement benefits could leave lawmakers with less money for other state needs in years when transfers are made.
More detail
The amendment would transfer General Fund revenue each year to a fund that does not expire at year-end. The fund would pay for retirement benefit improvements for retired state employees and teachers, and their beneficiaries. The amount would be the difference between the General Fund's payment toward the unfunded retirement liability in the transfer year and its payment for fiscal year 2027-28, or $185 million, whichever is lower. The stated transfer period would include fiscal year 2032-33.
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Where it stands
- Introduced
- Passed 1st Chamber
- Became Law
- Died
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 29Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)Died
- Mar 3On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.
- Feb 26Sent for concurrence. ORDERED SENT FORTHWITH.
- Feb 26PASSED TO BE ENACTED.Became Law
- Feb 24Ordered sent down forthwith.
- Feb 24READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "B" (H-795), in concurrence.Minor
- Feb 24COMMITTEE ON BILLS IN THE SECOND READING REPORTS NO FURTHER VERBAL AMENDMENTS NECESSARY. REPORT ACCEPTED.
- Feb 12ASSIGNED FOR SECOND READING NEXT LEGISLATIVE DAY.
- Vote recorded ACCEPT MAJORITY OUGHT TO PASS AS AMENDED REPORT. Result: pass.Upper
- Feb 12Committee Amendment "B" (H-795) READ and ADOPTEDMinor
- Feb 12Bill READ ONCEMinor
- Feb 12Roll Call Ordered Roll Call Number 715 Yeas 32 - Nays 0 - Excused 3 - Absent 0
- Feb 12On motion by Senator TIPPING of Penobscot to ACCEPT the Majority Ought to Pass as Amended Report PREVAILED.
- Feb 12Reports Read
- Feb 10Sent for concurrence. ORDERED SENT FORTHWITH.
- Vote recorded ACC OTP-AM BY CA "B". Result: pass.Lower
- Feb 10The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "B" (H-795).Minor
- Feb 10Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.
- Feb 10Committee Amendment "B" (H-795) was READ and ADOPTED.Minor
- Feb 10The Bill was READ ONCE.Minor
- Feb 10(Yeas 91 - Nays 47 - Absent 10 - Excused 1 - Vacant 2)
- Feb 10ROLL CALL NO. 609
- Feb 10On motion of Representative ROEDER of Bangor, the Majority Ought to Pass as Amended Report was ACCEPTED.
- Feb 10Reports READ.
- Feb 3Reported Out - OTP-AM/ONTP
- Jan 20Voted - Divided Report
- Jan 13Work Session Held - TABLED
- 2025
- Jun 25Carried over, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
- Jun 12Carry Over Approved
- Jun 12Carry Over Requested
- Jun 10Referred To - LAB
- Jun 10On motion by Senator TIPPING of Penobscot Bill and accompanying papers be COMMITTED to the Committee on LABOR in concurrence.Minor
- Jun 10Reports READ
- Jun 10Sent for concurrence. ORDERED SENT FORTHWITH.
- Jun 10Subsequently, on motion of Representative ROEDER of Bangor the Bill and accompanying papers were COMMITTED to the Committee on LABOR.Minor
- Jun 10Speaker laid before the House
- Jun 4Later today assigned.
- Jun 4On motion of Representative ROEDER of Bangor, TABLED pending ACCEPTANCE of Either Report.
- Jun 4Reports READ.
- Jun 3Reported Out - OTP-AM/ONTP
- May 14Voted - Divided Report
- May 14Work Session Held
- May 1The Bill was REFERRED to the Committee on LABOR pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401.Minor
- May 1Received by the Clerk of the House on May 1, 2025.Introduced
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