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Amend the bill by inserting after section 2 the following:
‘Sec. 3. Appropriations and allocations. The following appropriations and allocations are made.
 
EDUCATION, DEPARTMENT OF
 
General Purpose Aid for Local Schools 0308
 
Initiative: Provides funds for the State's share of the increased costs to the normal cost component of the teacher retirement portion of the State Employee and Teacher Retirement Program as a result of applying the cost-of-living adjustment to the full benefit of retirees.

GENERAL FUND	2017-18	2018-19	
All Other	$2,696,110	$2,808,000	
			
GENERAL FUND TOTAL	$2,696,110	$2,808,000	

Teacher Retirement 0170
 
Initiative: Provides one-time funds for the increased costs to the unfunded actuarial liability of the teacher retirement portion of the State Employee and Teacher Retirement Program as a result of applying the cost-of-living adjustment to the full benefit of retirees.

GENERAL FUND	2017-18	2018-19	
All Other	$550,000,000	$0	
			
GENERAL FUND TOTAL	$550,000,000	$0	

EDUCATION, DEPARTMENT OF			
DEPARTMENT TOTALS	2017-18	2018-19	
			
GENERAL FUND	$552,696,110	$2,808,000	
			
DEPARTMENT TOTAL - ALL FUNDS	$552,696,110	$2,808,000	

RETIREMENT SYSTEM, MAINE PUBLIC EMPLOYEES
 
Retirement System - Retirement Allowance Fund 0085
 
Initiative: Provides funds for the increased costs to the normal cost component and unfunded actuarial liability of the state employee portion of the State Employee and Teacher Retirement Program as a result of applying the cost-of-living adjustment to the full benefit of retirees.

GENERAL FUND	2017-18	2018-19	
All Other	$246,760,000	$2,860,000	
			
GENERAL FUND TOTAL	$246,760,000	$2,860,000	

RETIREMENT SYSTEM, MAINE PUBLIC EMPLOYEES			
DEPARTMENT TOTALS	2017-18	2018-19	
			
GENERAL FUND	$246,760,000	$2,860,000	
			
DEPARTMENT TOTAL - ALL FUNDS	$246,760,000	$2,860,000	

SECTION TOTALS	2017-18	2018-19	
			
GENERAL FUND	$799,456,110	$5,668,000	
			
SECTION TOTAL - ALL FUNDS	$799,456,110	$5,668,000	
 
’
 
SUMMARY
This amendment provides funding to fund the costs of removing the limit on the cost-of-living increase for state retirement benefits.
FISCAL NOTE REQUIRED
(See attached)