Politics and Legislation
Retirees do their part!
Retirees lobby legislators on bills and issues that have a broad range of impact on our retired membership. From testifying on legislation to recover past cuts to the pension system to adding new benefits for future retirees. MSEA-SEIU retirees stand up and are heard!
Retirees add to our POWER by joining PASER
Successes in 2023!
One-time Retroactive COLA Payment for Eligible State Sponsored Plan Retirees
The recently passed Maine State Government budget (Public Law Chapter 412, Part HHHHH) included a one-time Cost of Living Adjustment (COLA) payment for eligible retirees who receive monthly payments through State-sponsored retirement plans, (state employees, teachers, judges, and legislators).
Eligible retirees will receive a payment equaling 3% of their yearly benefit for the period ending August 31, 2022 up to a maximum of 3% of the 2022 COLA base, $24,186.25. The 3% does not apply to any benefit received in excess of this COLA base amount.
This one-time payment applies to retirees who were eligible for a cost-of-living adjustment in September 2022. It is a one-time payment and will not be included in the calculation of future benefit adjustments.
This law becomes effective in late October, therefore the additional one-time payment will be part of the retiree payroll processed in November. It may appear as a separate payment and retirees may receive an advice of deposit specific to this one-time payment.
LD 1499 Regarding Penalties for Early Retirement for Certain Members of the Maine Public Employees Retirement System
Under changes made to the Maine Public Employees Retirement System in 1993, employees who were members of the Maine Public Employees Retirement System as of July 1, 1993 but did not have 10 years of creditable service as of July 1, 1993 are required to have 25 years of creditable service and attain 62 years of age in order to avoid incurring a penalty of 6% of earned benefits for each year the person retires before attaining 62 years of age. Prior to that change, the penalty was 2.25% for each year below 60 years of age the person retired.
Beginning October 1, 2023, this bill changes the rate of the penalty for those state employees who retired between July 1, 2011 and January 1, 2012 and for teachers who retired between July 1, 2011 and July 1, 2012 who had at least 25 years of service on July 1, 2011 but had not attained 62 years of age to 2.25% for each year the person was below 62 years of age upon retirement from service.
Still Working On It!
Legislation that's been heldover from last session...
LD 70, Eliminate the Cap on Retirement Benefits for State Employees to Which a COLA is Made.
The amended version of this bill would raise the amount of pension benefit the COLA applies to $40,000
LD 1096, Help Retired State Employees Keep Pace with Inflation by Matching the COLA to SS Benefits.
The amended version of this bill would raise the annual 3% COLA cap to 4%.