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Amend the bill by striking out everything after the enacting clause and before the summary and inserting the following:
‘Sec. 1. 5 MRSA §17763-A  is enacted to read:
§ 17763-A.  Purchase of service credit by an educator of a child with a disability; service before July 1, 1976
If a member can provide the board with satisfactory evidence that the member performed before July 1, 1976 any work as an educator or teacher of a child with a disability, as defined in Title 20-A, section 7001, subsection 1-B, including as a teacher who may not meet the definition in section 17001, subsection 42, in a private or parochial school or other school, center, facility or program that was not part of a public school system, the member may purchase up to one year of service credit for any such work performed before July 1, 1976. Service credit for this work must be calculated on the basis of school years. In order to purchase this service credit and before any retirement benefit becomes effective, the member must pay into the Members' Contribution Fund by a single direct payment or annual direct payments to the retirement system an amount that, together with regular interest on that amount, is the actuarial equivalent at the effective date of the retirement benefit of the portion of the retirement benefit based on the additional creditable service. Annual payments must be made in accordance with section 17701, subsection 4. Additional amounts paid under this subsection become a part of the member's accumulated contributions. If any retirement benefit becomes effective before the completion of the payment under this section, the member is entitled to service credit for that portion of the additional creditable service that the total amount of payments actually made plus regular interest on those payments to the date the retirement benefit becomes effective bears to the actuarial equivalent of the total portion of the retirement benefit based on the additional creditable service.’
 
SUMMARY
This amendment strikes and replaces the bill but retains a provision for the acquisition of service credit similar to the bill, in which educators can acquire service credit in the Maine State Retirement System for years in which they taught children with disabilities in private schools before such children were provided access to the public school system. The bill granted one year of service credit. Under the amendment, up to one year of service credit may be purchased at full actuarial cost.
 
FISCAL NOTE REQUIRED
(See attached)