LD 1664 LR 1442(02)
An Act To Place Funds for the Retired County and Municipal Law Enforcement Officers and Municipal Firefighters Health Insurance Program into a Trust
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor and Housing
Fiscal Note Required: Yes
Fiscal Note
Transfer from Cash Pool to Trust Account
Fiscal Detail and Notes
A portion of funds held in the Treasurer's cash pool on behalf of the Firefighters and Law Enforcement Officers Health Insurance Program Fund not needed for current expenditures will be moved to a trust account. The funds will be invested in accordance with the Maine Revised Statutes Annotated, Title 5, 138, which provides authorization and limitations for investing trust funds. It is anticipated that, over time, the investment performance may exceed that of the Treasurer's cash pool.