Me. Rev. Stat. tit. 4, § 1358

Cost-of-living and other adjustments

Applied in 1 court decision — leading case Maine Ass'n of Retirees v. Board of Trustees of the Maine Public Employees Retirement System (2014)

Most recently applied in Maine Ass'n of Retirees v. Board of Trustees of the Maine Public Employees Retirement System (June 2014)

PL 1983, c. 853, §§C15,18 (NEW)

1. Cost-of-living adjustments. Except as provided in subsection 2, paragraph A, retirement allowances under this chapter must be adjusted on the same basis as provided for members of the State Employee and Teacher Retirement Program by Title 5, section 17806.

A-1.

2. Retirement allowances. Retirement allowances under section 1352, subsection 4.

A. Beginning in July 1985, and each July thereafter, through July 1989, retirement allowances under section 1352, subsection 4, shall be increased by 6% compounded annually.

B. Beginning in September 1990, and each September thereafter, retirement allowances under section 1352, subsection 4, shall be adjusted as provided in subsection 1.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.