124th MAINE LEGISLATURE
		LD 1776		LR 2539(02)
	An Act To Protect Teacher Retirement Income
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Labor
	Fiscal Note Required: Yes
Fiscal Note
Potential future biennium cost increase - General Fund
Fiscal Detail and Notes
	Allowing teachers and participating local district employees covered by the Maine Public Employees Retirement System to purchase time attributable to days off without pay during fiscal year 2009-10 and fiscal year 2010-11 as a result of actions taken by a school administrative unit or participating local district will not increase the unfunded actuarial liability of the State Employee and Teacher program or result in an unfunded actuarial liability to the Participating Local District Program.  The potential impact on the employers' future contribution rate can not be determined at this time and will be based on the future experience of each plan.  Because the State pays 100% of the employer's share of teacher retirement costs, any increase in the employers' contribution rate for teachers will be borne fully by the General Fund.