20-221D 20-221D . . . Stock Bonus Plan Board of Directors has authority to determine which key employees shall be awarded stock bonuses, amounts of bonuses, number of shares of common stock to be awarded, and all other terms and provisions of each bonus. Bonus awards are based on attainment of specified types and combinations of performance measurement criteria, which may differ as to various employees
Maine Executive Bonus Plan
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US-CC-20-221D
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FAQ
Confidential employees with twenty (20) years of State service are eligible to receive an annual longevity payment of $832.00.
I am going to receive service retirement benefits from MainePERS and Social Security. How will this affect me? A: The amount of your MainePERS service retirement benefit is not affected by the amount of your Social Security retirement benefits.
In June 2021, Maine signed a bill into law to create the Maine Retirement Savings Program. Under the program, private-sector employers that don't offer a retirement plan must provide their employees the option to contribute to a Roth IRA from their paychecks.
As amended, LD 1622, the Work and Save bill, would create the Maine Retirement Savings Program, a way for working Mainers to contribute to a Roth IRA directly from their paycheck. Employers who don't offer their own retirement savings plans will facilitate a deduction for their employees, straight from their paycheck.
You qualify to receive a benefit once you have at least 25 years of service credit. You qualify to receive a benefit upon reaching your normal retirement age of 60, 62 or 65, whether or not you are in service, provided that you have earned creditable service of 5 or 10 years, whichever amount is applicable to you.
The MaineSaves plan is a voluntary retirement savings program. You choose how much you'd like to save and where you'd like your money invested. This is an easy, pre-tax way to save additional funds towards retirement conveniently through payroll deduction.
Average State of Maine hourly pay ranges from approximately $15.88 per hour for Research Assistant to $75.00 per hour for Sonographer. The average State of Maine salary ranges from approximately $42,500 per year for Security Officer to $129,456 per year for Operations Associate.