§17763-A. Purchase of service credit by an educator of a child with a disability; service before July 1, 1976
If a member can provide the board with satisfactory evidence that the member performed before July 1, 1976 any work as an educator or teacher of a child with a disability, as defined in Title 20‑A, section 7001, subsection 1‑B, including as a teacher who may not meet the definition in section 17001, subsection 42, in a private or parochial school or other school, center, facility or program that was not part of a public school system, the member may purchase up to one year of service credit for any such work performed before July 1, 1976. Service credit for this work must be calculated on the basis of school years. In order to purchase this service credit and before any retirement benefit becomes effective, the member must pay into the Members' Contribution Fund by a single direct payment or annual direct payments to the State Employee and Teacher Retirement Program an amount that, together with regular interest on that amount, is the actuarial equivalent at the effective date of the retirement benefit of the portion of the retirement benefit based on the additional creditable service. Annual payments must be made in accordance with section 17701, subsection 4. Additional amounts paid under this subsection become a part of the member's accumulated contributions. If any retirement benefit becomes effective before the completion of the payment under this section, the member is entitled to service credit for that portion of the additional creditable service that the total amount of payments actually made plus regular interest on those payments to the date the retirement benefit becomes effective bears to the actuarial equivalent of the total portion of the retirement benefit based on the additional creditable service. [PL 2007, c. 491, §140 (AMD).]
SECTION HISTORY
PL 2007, c. 303, §1 (NEW). PL 2007, c. 491, §140 (AMD).
Structure Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 20: STATE RETIREMENT SYSTEM
Chapter 423: STATE EMPLOYEES AND TEACHERS
Subchapter 4: CREDITABLE SERVICE
5 §17751. Determination of one-year's service credit
5 §17752. Service credit for prior service
5 §17753. Service credit for back contributions
5 §17754. Out-of-state service
5 §17755. Disability retirement service credit
5 §17756. Unused accrued or accumulated sick leave or unused vacation leave
5 §17758. Legislature and Executive Council (REPEALED)
5 §17759. Federal employment service
5 §17760. Service in the armed forces
5 §17762. Adult education teachers (REPEALED)
5 §17763. Teachers in private, parochial and other schools
5 §17764. Vista, Peace Corps, Head Start and foreign teaching
5 §17765. Teacher previously employed as teacher's aide or Educational Technician I
5 §17766. Service credit for educational leave (REALLOCATED FROM TITLE 5, SECTION 17765)