Committee considers technical fix to how MainePERS sets group life insurance coverage
MainePERS told the Labor Committee that LD 20 22 would replace a W‑2 gross‑compensation reference with the statutory definition of 'earnable compensation' to simplify and standardize reporting for group life insurance; the agency does not expect a fiscal note.
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Representative Amy Rader presented LD 20 22, a departmental technical bill to clarify how annual base compensation is reported for purposes of setting group life insurance (GLI) under the Maine Public Employees Retirement System. The bill replaces a W‑2 gross compensation reference with the statutory definition of "earnable compensation," which MainePERS says is already reported to the system for retirement purposes.
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