94-411-803 Me. Code R. § 1

Current through 2024-51, December 18, 2024
Section 411-803-1 - DEFINITIONS
1.Local District. "Local district" means:
A. Any county, municipality, quasi-municipal corporation or incorporated instrumentality of the State or of one or more of its political subdivisions;
B. Any incorporated association of employees of the State or employees of any of the entities set out in paragraph A;
C. Any incorporated association of any of the entities set out in paragraph A;
D. Any entity eligible to become a participating local district before January 1, 1976;
E. Any entity participating in the Retirement System before January 1, 1976; or F. Any educational institution in the State teaching courses equivalent to or higher than secondary institutions.
G. Any public charter school, as authorized by Title 20-A, chapter 112.
2. "Consumer Price Index" means:
A. The Consumer Price Index for All Urban Consumers, CPI-U, as compiled by the Bureau of Labor Statistics, United States Department of Labor; or B. If the index described in paragraph A is revised or superseded, the Board must employ the Consumer Price Index compiled by the Bureau of Labor Statistics, United States Department of Labor that the Board finds to be most reflective of changes in the purchasing power of the dollar for the broadest population of consumers, including retired consumers.
3. "Current Employer" means the employer who is the member's employer at the time the member becomes a member under The Plan.
4. "Member" means any employee included in the membership of The Plan.
5. "Normal Retirement Age" means the specified age, the years of service requirement or any combination of age and years of service requirements at which a member becomes eligible for an unreduced retirement benefit.
6. "Participant" means any employee included in the defined contribution plan under this chapter.
7. "Participating Local District" means a local district which has approved the participation of its employees in the Retirement System under 5 M.R.S. §18201 or §18804.
8. "The Plan" means the defined benefit plan under the consolidated retirement plan for local districts established by 5 M.R.S., Chapter 427 (§18801et seq.) and this chapter.
9.Other Terms. All other terms used in this chapter, unless the context otherwise indicates, shall have the same definitions as in 5 M.R.S. §17001.

94-411 C.M.R. ch. 803, § 1