Maine Public Employees Retirement System


Bureau Of Human Resources

Bob Chapman on Maine PERS bailout

11.2.A Retirement

All employees, except certain appointed officials, are required to join the Maine Public Employees Retirement System . As a member of the Maine Public Employees Retirement System, you contribute, along with the State of Maine, to both retirement and life insurance benefits. These benefits include:

Service Retirement Benefit – Most state employees currently contribute 7.65% of their total earnable compensation into the MainePERS. The State, on behalf of all state employees, contributes an additional amount as a percentage of employees total earnings.

You may retire at what is your “normal retirement age.”

Your normal retirement age is 60 if, before July 1, 1993, you had:

  • at least 10 years of service credit or,
  • reached age 60 and had at least a year of service credit immediately prior to reaching age 60.

Your normal retirement age is 62 if:

  • before July 1, 1993, you had:
  • less than 10 years of service credit and
  • reached age 60 with at least a year of service credit.
  • before July 1, 2011, you had:
  • at least 5 years of service credit or,
  • reached age 62 and had at least a year of service credit immediately prior to reaching age 62.

Your normal retirement age is 65 if, before July 1, 2011, you had:

  • less than 5 years of service credit and
  • not reached age 62 with at least a year of service credit.

For help in determining which provision youre covered by, please contact the MainePERS.


What Are The Fees

Understanding investment fees

Cost of plan services

1. General record keeping and other plan services

Over the course of a year you pay for services like record keeping.

2. Specific investment services

You pay only for what you use.

3. Personalized services

You can opt for extra features, like loan services.

Brokerage account

Qualified Domestic Relations Orders

About The University Of Maine System

Established in 1968, the University of Maine System unites seven distinctive public universities, comprising 10 campuses and numerous centers, in the common purpose of providing quality higher education while delivering on its traditional tripartite mission of teaching, research, and public service.

In 2020 UMS became the first and only statewide enterprise of public higher education in the country to transition to a unified accreditation for the system. Much different than a merger or consolidation, unified accreditation is a new operating model for the University of Maine System that removes the primary barrier to inter-institutional collaboration.

A comprehensive public institution of higher education, UMS serves more than 30,000 students annually and is supported by the efforts of more than 2,000 full-time and part-time faculty, more than 3,000 regular full-time and part-time staff, and a complement of part-time temporary faculty.

Reaching more than 500,000 people annually through educational and cultural offerings, the University of Maine System also benefits from more than two-thirds of its alumni population residing within the state more than 123,000 individuals.

Please follow these links to the UMS Logo, UMS and individual university style guides and an image and biographical information for Chancellor Malloy.

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Tips To Help Your Retirement Planning

  • The best way to plan for retirement is to have a plan. If you know how much you need to save and how youre going to get there, you can put yourself in a position to succeed. If youre unsure how to create a plan or just want a second opinion on your current savings strategy, talk to a financial advisor. An advisor is an expert who can look at your whole financial situation with you and then help you make the best decisions. SmartAssets financial advisor matching tool can save you time by quickly pairing you with as many as three advisors in your area.
  • If you just want to see how your tracking and how much your current savings could be over time, try our free retirement calculator.

Retirement Taxes In Maine

Maine Public Employees Retirement System (PERS)


Contributions that you make to MainePERS are pre-tax. That means you make your contributions before you pay income taxes on them. You will still need to pay income taxes, but not until you withdraw the money from the plan or until you receive your retirement benefits.

The easiest option for paying income tax is to let the IRS withhold the tax. However, this options isnt available for all types of retirement income. It also doesnt give you as much control over your taxes as some people want. For instance, it will likely result in the IRS withholding more than is necessary so that you get a tax refund during tax season.

If you want more control over what you pay in taxes , you should make estimated tax payments. These are quarterly tax payments that you send to the IRS.

You can also gain more control over your money by moving it into another retirement account. For example, you could rollover your pension money into a 401 or individual retirement account . The thing to be sure of is that you move money from a tax-deferred account into another tax-deferred account. If you move the money into something like a Roth IRA, which takes post-tax money, you will have to pay income taxes as soon as you move the money.


As our Maine retirement friendliness page will show you, Maine is not the most tax-friendly state for retirees. The state taxes income from retirement accounts and from pensions, such as from MainePERS.

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Mills Signs Bill To Divest State Investments From Fossil Fuels

Gov. Janet Mills has signed into a law a bill that directs the Maine Public Employee Retirement System to divest $1.3 billion from fossil fuels within five years and directs the state treasury to do the same with other state funds. The governor’s action makes Maine the first state in the country to commit to fossil fuel divestment through legislation and Cassie Cain of the coalition Maine Youth for Climate Justice and 350 Maine says she expects other states to follow Maine’s lead.

“You know, there’s other campaigns going in New York and California and Colorado. This sets a really good precedent that this is able to be done through legislation,” Cain says.

Sponsored by Democratic Rep. Maggie O’Neil of Saco, the bill was backed by State Treasurer Henry Beck, Maine Youth for Climate Justice and environmental advocacy organizations who say that it’s past time for public pensions and others to address the mounting climate risk by dropping fossil fuel investments from their portfolios.

Uma President Stepping Down To Lead Maine Public Employees Retirement System

After four years as president of the University of Maine at Augusta, Rebecca Wyke will leave at the end of the summer to become the next CEO of the Maine Public Employee Retirement System, according to a news release Thursday.

Without giving a timeframe for finding a successor, the University of Maine System said Chancellor Dannel Malloy will soon seek input on the decision from the school’s community.

Wyke joined the University of Maine System as vice chancellor for finance and administration in 2008. She served as interim president for the University of Maine in Augusta in 2015-16 and was appointed to the position for a three-year-term in 2017. At that time, she told Mainebiz in an interview that her new job at that time “feels very much like coming home.”

Wyke was reappointed to her post in 2019.

In her parting message this week to the university, Wyke said the University of Maine at Augusta “is a vibrant and caring, learning community and I will deeply miss being a part of it” and said it has a bright future.

“You are in good hands with the leadership team, and have the best faculty and staff to carry UMAs mission forward,” she added.

Malloy said, “Dr. Rebecca Wyke is a committed public servant and a caring higher education leader who has always put the interests of her students, faculty, and staff first.

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Public Pensions In Maine

This article does not contain the most recently published data on this subject. If you would like to help our coverage grow, consider donating to Ballotpedia.

Maine information
Total cash and investment holdings: $12,408,641,000
Number of state and local pension systems: 1
Actuarial value of assets
Unfunded actuarial accrued liability
Annual required contribution
Rate of return Active member
Inactive member OPEB
Hover over the aboveterms for definitions.
Note: This page utilizes information from a variety of sources. The information presented on this page reflects the most recent data available as of August 2017.

Maine public pensions are the state mechanism by which state and many local government employees in Maine receive retirement benefits.

According to the United States Census Bureau, there was one public pension system in Maine as of 2016, administered at the state level. As of fiscal year 2016, membership in Maine’s pension system totaled 61,361. Of these, 51,221 were active members.


  • In fiscal year 2016, total contributions of $528.1 million were made to Maine’s pension system. Of this amount, $167.2 million came from employees.
  • In fiscal year 2016, Maine’s pension system made payments totaling $977.0 million.
  • As of fiscal year 2016, Maine’s pension system held $12.4 billion in total cash and investment holdings.
  • See the sections below for specific information on pension systems in Maine:

    To All Mainepers Retirees:

    Maine Gov. – Screw Teachers, Help Rich

    Recipients of an employer pension are entitled to choose not to have income tax withheld from their payments, or to change their withholding election. You can do this by completing and submitting a new form W-4P to us indicating your choice. The form is available on the IRS website by clicking here:

    Please note that even if you elect not to have federal income tax withheld, you are still responsible for the payment of federal income tax on the taxable portion of your monthly benefit. You may also be subject to tax penalties under the estimated tax payment rules if your payments of estimated taxes or withholdings are not enough to satisfy your federal tax liability.

    P.O. Box 349, Augusta, ME 04332-0349

    139 Capitol Street, Augusta, ME 04330

    451-9800 or 512-3100

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    Mainepers: Public Pension In United States North America

    Maine Public Employees’ Retirement System is a Public Pension located in Augusta, ME United States, North America, and was founded in 1942. Current Assets for MainePERS is $15,888,829,933 and SWFI has 17 periods of historical assets, , 145 transactions, 2 Opportunities/RFPs, 20 personal contacts available for CSV Export.

    • Request Profile Update

    Maine Public Employees Retirement System

    In addition to active members, many public sector retirees and their beneficiaries receive monthly benefits from retirement plans offered by MainePERS. The System also administers the following programs for eligible individuals:

    • Disability Retirement

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    How The Maine Retirement System Works

    MainePERS is the states retirement system, but its broken down further to cover specific employees. At the same time, all of the plans and programs work similarly. For one, they are all defined contribution plans. Employees contribute a set percentage of their salaries into a fund. System management then invests the money in the fund with the goal of growing it enough to cover lifetime retirement benefits for members of MainePERS.

    All contributions to the system are pre-tax. Members dont pay income tax on the money until they withdraw it or until they receive it as retirement benefits. As with other state retirement plans, MainePERS plans qualify with the IRS as 401 plans.

    As mentioned, MainePERS breaks down into multiple plans and programs, with each covering a certain group of workers. The table below breaks down who each plan covers.

    Maine Retirement Plans
    Standard retirement plan, covering most public employees
    MainePERS Teacher Plan Part of the MainePERS State Plan, but tailored specifically to help public school teachers understand their benefits
    Maine Legislative Retirement Program Covers all legislators who began serving on or after December 3, 1986
    MainePERS Judicial Retirement Program Covers all judges and justices who serve in Maine
    MainePERS for Participating Local Districts Applies to employees who work for a local government that participates in MainePERS

    Maine Public Employees Trails Benchmark With 265% Return

    Maine Public Employees Retirement System (PERS)

    The Maine Public Employees Retirement System, Augusta, recorded a net 26.5% return for the fiscal year ended June 30, trailing the benchmark return of 27.4%, according to information posted on the $18.1 billion pension fund’s website.

    The plan had a net 6.2% return for the quarter ended June 30, topping the 4.6% benchmark.

    The pension fund had a net return of 1.8% for the fiscal year ended June 30, 2020.

    For the three years ended June 30, 2021, the annualized return was 11.4% vs. a benchmark of 11%. For the five-year period, the annualized return was 11.4%, exceeding the benchmark of 10.7% 10 years, 8.7% vs. a benchmark of 8.2%, and 20 years, the return was 7%, topping the benchmark of 6.8%.

    The largest allocations in the pension fund as of June 30 were public equity , private equity and infrastructure . Other allocations were real estate , traditional credit , U.S. government bonds , risk diversifiers , alternative credit , natural resources and cash .

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    Overview Of Maines Retirement Systems

    MainePERS State Plan This is the standard retirement pension plan and it covers the majority of public employees. Once you become a state employee, you need to become a member. You will also begin contributing to the plan as soon as you receive your first paycheck. Members contribute 7.65% of their salaries to the plan.

    To receive retirement benefits, you will need to earn a certain amount of service credit and reach a certain age. Service credit is simply the amount of time you have worked as a member. In general, one year of full time work equals one year of service credit. It you are a part-time worker, the credit you earn is the ratio of how much time you worked versus how much time a full-time employee would work. For example, if you work half as many hours in one year as a full-time member employee works for the same job, then you will earn half the amount of service credit.

    If you had at least 10 years of service credit before July 1, 1993, you can retire with full benefits at the age of 60. For those who became members after July, 1, 2011, you can expect to work until 65 before you can retire with full benefits. If you had less than 10 years of service credit before July 1, 2011, you may be eligible to retire at age 62 with full benefits.

    To calculate your retirement benefit, you can use the following formula:

    Retirement Benefit = Average Final Compensation x Years of Service Credit x Accrual Rate

    Be Aware Of Marketing Contacts Referencing Mainepers

    Some members approaching retirement age have received emails at work that mention MainePERS and offer to help with retirement benefits. Recently they have come from the email address and say at the bottom of the email that they are from Fed Resource of San Diego, CA. Please know that these emails have no association with MainePERS, and MainePERS neither works with the firms sending these emails nor endorses them. These sort of contacts typically come from business organizations that seek to make money by providing services to you or referring you to another business for a fee from that business.

    We can answer any questions about the retirement benefits MainePERS administers for you.

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    University Of Maine System Covid

    Shield T3 Health, the University of Maine Systems COVID-19 testing partner with a mobile lab on the University of Maine campus in Orono, has verified that its PCR testing methods are effective in detecting infection by all known COVID-19 variants, including Omicron.

    The U.S. Centers for Disease Control and Prevention announced Dec. 1 that the first confirmed case of COVID-19 caused by the new variant was discovered in California , but no confirmed cases have been identified in Maine at this time.

    Maines public universities continue to prioritize health, said Chancellor Dannel Malloy. Using COVID testing to identify and isolate infection, the testing capacity we have brought to the state, and our latest efforts to encourage booster shots are among the many measures we have put in place to help keep our students, faculty and staff, and communities safe.

    The PCR testing capacity available in Maine through the Shield T3 Health mobile laboratory on the UMaine campus also supports testing practices at other state entities, including the Maine Department of Health and Human Services, the Maine Community College System and the Maine Public Employees Retirement System. Shield T3 can process 10,000 COVID tests per day at its UMaine-based mobile laboratory.

    Individual testing is not available at the mobile laboratory.

    Kennebec County V Maine Public Employees Retirement System: An Important Ruling For Maines Governmental Employers

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    The Maine Supreme Judicial Court recently handed down an important ruling limiting the administrative authority of the Maine Public Employees Retirement System . In Kennebec County v. Maine Public Employees Retirement System , three employees of Kennebec County claimed that, at the time they were hired as full time employees, the County had failed to inform them of their eligibility to join MPERS. As a consequence, the employees argued, they were entitled to benefits as if they had enrolled in MPERS as of their respective dates of hire . This would have required the County to fund benefits for as much as 22 years in arrears, which would have been devastating to the County.

    The MPERS Board of Trustees ruled that the County had a statutory obligation to inform the employees of their eligibility and that, because the County could not provide specific documentation regarding each of the individual employee-plaintiffs, the County had failed in its duty to inform them. The Law Court reversed the MPERS decision, ruling that MPERS has no authority over the enrollment process or anything that occurs prior to it. The Court said that to hold otherwise could invite inconsistent and speculative decision-making, reliant on faded memories and imprecise or discarded records of events twenty or thirty years in the past.

    Three take-home points from Kennebec County

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