Maine § 18452. - Computation of benefit
Full text of Maine Maine Revised Statutes § 18452. — Computation of benefit, with citation guidance and answers to common questions.
§ 18452.. Computation of benefit
1. Member in service. The total amount of the service retirement benefit for members qualified under section 18451, subsection 1 equals:
A. One-fiftieth of the member's average final compensation multiplied by the number of years of membership service; and [RR 2023, c. 2, Pt. B, §146 (COR).]
B. If the member has prior service, 1/50 of the member's average final compensation multiplied by the number of years of prior service, except that the number of years of prior service used in this computation may not exceed 25 years unless the participating local district has made the election provided under section 18352, subsection 2. [RR 2023, c. 2, Pt. B, §146 (COR).]
2. Member not in service. The amount of the service retirement benefit for members qualified under section 18451, subsection 2, shall be computed in accordance with subsection 1.
3. Member with creditable service of 25 years or more. The amount of the service retirement benefit for members qualified under section 18451, subsection 3 is computed in accordance with subsection 1, except that:
A. The amount arrived at under subsection 1 is reduced by applying to that amount the percentage that a life annuity due at 60 years of age bears to the life annuity due at the age of retirement. [PL 2013, c. 391, §11 (AMD).]
B. For the purpose of making the computation under paragraph A, the board-approved tables of annuities in effect at the date of the member's retirement is used. [PL 2013, c. 391, §11 (AMD).]
The amount of the service retirement benefit for members qualified under section 18451‑A is computed in accordance with subsection 1, except that any benefit reduction for retiring prior to 60 years of age for members qualified under section 18451‑A, subsection 1 or prior to 65 years of age for members qualified under section 18451-A, subsection 2 must be contained in the plan provisions adopted by rule pursuant to section 18801 that provide for the payment of the full actuarial cost of retiring prior to 60 years of age or 65 years of age as applicable.
Frequently Asked Questions About Maine § 18452.
What does Maine Revised Statutes § 18452. cover?
Section 18452. ("Computation of benefit") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 18452.?
A common citation format is "Maine Revised Statutes § 18452." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 18452. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.