P.O. Box 349, Augusta, ME 04332-0349    ●    toll free: (800) 451-9800    ●    local: (207) 512-3100  

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128th Maine
Legislative Session
2018 State/Teacher Plan
Review Report


2018 Legislative Update

2017 Legislative Update

 
Prior Legislative
Session Information

2014 PLD Consolidated Plan Changes

2013 Program Evaluation Report

Proposed Plan 2 Implementation Report
 
Proposed Pension Plan Draft Legislation


New Pension Plan Design and Implementation Plan

ESG Task Force Progress Report
Additional Pension Information and Reports

QuestionHave a question about legislation? Click here.


 

Whatever your age,
it's the right time to talk about retirement!

Info
Whether you are new to retirement planning or approaching your retirement age,
our online Information Request page
offers you an easy way to
get the information you need.



PLD Changes icon

We want to keep you informed about the recent changes to the Participating Local District Consolidated Retirement Plan (PLD Plan).  You can find information about the Plan, changes, and answers to your questions here, or by clicking on the icon to the left.  If you need additional information or questions, please don’t hesitate to contact us at 207-512-3100.






Annual
Cost-of-Living Adjustment
(COLA)

 

 

On August 9, 2018, MainePERS Board of Trustees adopted the 2.9% Consumer Price Index - Urban Consumers (CPI-U) rate compiled by the U.S. Department of Labor’s Bureau of Labor Statistics on June 30, 2018, as the basis for 2018 cost-of-living adjustment (COLA) for all pension plans to which it applies. Eligible recipients will first see the COLA reflected in their September pension payment.

Eligible State/Teacher, Judicial, and Legislative retirement plan retirees will receive the 2.9% COLA on their benefit up to $21,818.30 (which is the 2018 base), or a maximum increase of $52.73/month.  The 2019 COLA-base will increase by 2.9%, to $22,451.03.  The total additional amount that will be paid to the eligible benefit recipients in these plans during the next 12 months as a result of the 2018 COLA is expected to be approximately $15,744,000.

Eligible Participating Local District – Consolidated Plan (PLD) retirees will receive a 2.5% COLA on their current benefit.  The total additional amount that will be paid to the eligible benefit recipients in this plan during the next 12 months as a result of the 2018 COLA is expected to be approximately $3,299,600.

You can read more about eligibility requirements and how your plan implements this COLA at http://mainepers.org/2018 COLA.htm.  You can also call our office at 800-451-9800 and speak with one of our service representatives.

 


I want to... RETIREES
...change my mailing address.
...change my tax exemptions/allowances.
...get health insurance information.
...return to work after retirement.
...know when my payment is deposited.
[see also FAQs.]

MEMBERS I want to...
...find out about my contributions and time.
...borrow money from my retirement.
...know when I can retire.
...learn about Social Security and MainePERS
...receive a refund of my contributions.
[see also FAQs.]
calendar icon Click the link below
to view the
2018
Benefit Payment Calendar 

Thinking Retiring
Savings
MaineSTART

SSAClick here to take the Social Security Administration's online survey about how they can best serve the American public.
 


New Cost Sharing Model
for PLD Plan Adopted

 

MainePERS and our actuary have developed a new cost-sharing model that helps avoid the cycle where future benefits must be reduced or cost-of-living-adjustments are frozen when substantial market losses occur. The Board of Trustees adopted this model for the PLD Plan in May 2018, which has received recognition from the Society of Actuaries as an innovative funding model for public pension plans. You can read more about it here.



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Information contained on this Web site is neither a legal reference nor a complete statement of the laws or MainePERS administrative rules. In any conflict between this information and Maine laws or administrative rules, the laws and administrative rules shall prevail.

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