LD 1850
pg. 2
Page 1 of 2 An Act To Clarify the Change of Beneficiary Provision in the Maine State Retire... LD 1850 Title Page
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LR 2922
Item 1
 
B. The recipient and the spouse or former spouse who was
originally named retirement beneficiary must agree to the
change of beneficiary. Prior to this agreement, the
executive director shall ensure that the spouse or former
spouse who was originally named as retirement beneficiary
has been counseled by an employee of the retirement system
regarding the financial effect of giving up rights as a
beneficiary and has signed a statement that the information
has been received and understood.; or

 
C.__The court-ordered disposition of property specifies that
the recipient's service retirement benefit is set apart as
the sole and exclusive property of the recipient.

 
SUMMARY

 
This bill allows a retiree under the Maine State Retirement
System to change the beneficiary of that person in the case of a
divorce if the divorce judgment stipulates the retiree's pension
rights are set apart as the sole and exclusive property of the
recipient.

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