MainePERS | Maine Public Employee Retirement System

Time 2021-08-21 11:07:00

Web Name: MainePERS | Maine Public Employee Retirement System

WebSite: http://www.mainepers.org

ID:188897

Keywords:

Public,Maine,MainePERS,

Description:

Employer and member contributions along with long-term investment returns are essential to the sound funding of the defined benefit retirement programs administered by MainePERS. Read more about Investments.MainePERS supports the legislature and other governing bodies through the implementation of laws and rules. Information on laws and rules about MainePERS plans and current and past legislation can be found here.On August 12, 2021, MainePERS Board of Trustees adopted the 2021 cost-of-living adjustment (COLA) using the Consumer Price Index Urban Consumers (CPI-U) rate compiled by the U.S. Department of Labor’s Bureau of Labor Statistics on June 30, 2021, as the basis for COLA for all pension plans to which it applies. Since the June 30, 2021 rate was 5.4%, all plans will receive the maximum COLA allowable by law.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 3% COLA on their benefit up to $22,947.11 (which is the 2021 base), or a maximum increase of $57.37/month. The 2021 COLA-base will increase by 3%, to $23,635.52. The total amount that will be paid to the approximately 37,100 eligible benefit recipients in these plans during the next 12 months as a result of the 2021 COLA is expected to be approximately $18,300,000.Eligible Participating Local District – Consolidated Plan (PLD) retirees will receive a 2.5% COLA on their current benefit. The total amount that will be paid to the approximately 8,600 eligible benefit recipients in this plan during the next 12 months as a result of the 2021 COLA is expected to be approximately $3,900,000.You can read more about eligibility requirements and how your plan implements this COLA here. You can also call our office at 800-451-9800 and speak with one of our service representatives.The MainePERS Board of Trustees is pleased to announce the appointment of Dr. Rebecca Wyke as the next Chief Executive Officer of theMaine Public Employees Retirement System. She was selected from a pool of highly qualified candidates following a national search. Dr. Wyke will be joining MainePERS later this summer.Ms. Matheson will remain in an advisory capacity through the end of the year to assist in the transition and to complete some legislative projects currently underway.Dr. Wyke is the current president of the University of Maine at Augusta.Previously, she held executive positions at the University of Maine System as Vice Chancellor for Finance and Administration and as Commissioner of the State Department of Administrative and Financial Services for five years. The Board of Trustees is delighted she will be bringing her broad experience and leadership skills when she joins MainePERS later this summer.Dr. Wyke holds a Doctor of Education in Higher Education Management from University of Pennsylvania, and a Master of Public Administration and Bachelor of Arts from the University of Maine.Effective Monday May 24, 2021 our lobby is open Monday through Friday from 8:00 a.m. and 4:00 p.m. Reception staff are available to assist you. Masks are required to enter the foyer and lobby; hand sanitizer is also available. Our foyer remains open for limited-contact drop-off of materials using our secure drop-box.Although our lobby is open, the majority of our staff are still working remotely, so we are not hosting in-person meetings. We are offering on-site videoconference meetings with staff. The Reception staff will guide visitors through that process.The best way to speak with a member of our staff or schedule a videoconference meeting is to contact us by phone at 207-512-3100 or send an email to [email protected] Please include your name and phone number. For security reasons, please do not include your Social Security number in your message.We continue to encourage the use of mail or secure email for most of your MainePERS business. We are providing postage paid return envelopes to make it easier for you to use the mail and secure email if you prefer electronic communication. Our secure email system, Zixmail, not only allows MainePERS representatives to securely send/receive email that contains confidential or sensitive information to you, but also enables you as a member to generate secure email to MainePERS. If you would like to send this type of sensitive information to us via email, please use the following link: https://web1.zixmail.net/s/login?b=mainepers Thank you for staying safe and helping us to stay healthy so we can be here for your retirement needs.Learn more about the tax-deferred Defined Contribution savings program from MainePERS. P.O. Box 349, Augusta, ME 04332-0349 139 Capitol Street, Augusta, ME 04330 (800) 451-9800 or (207) 512-3100

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The Maine Public Employee Retirement System (MPERS) serves the public with sound retirement services to Maine governments.

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