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LD344 • 2025

An Act to Repeal the Law Establishing the Maine Retirement Savings Board

An Act to Repeal the Law Establishing the Maine Retirement Savings Board

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Representative Joshua Morris
Last action
2025-06-09
Official status
Reports Read On motion by Senator BAILEY of York the Majority Ought Not to Pass Report ACCEPTED in concurrence. Placed in Legislative Files (DEAD)
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Repeal the Law Establishing the Maine Retirement Savings Board

An Act to Repeal the Law Establishing the Maine Retirement Savings Board Sponsor: Representative Joshua Morris Reference committee: Health Coverage, Insurance and Financial Services Latest committee action: Reported Out; ONTP/OTP-AM

What This Bill Does

  • An Act to Repeal the Law Establishing the Maine Retirement Savings Board Sponsor: Representative Joshua Morris Reference committee: Health Coverage, Insurance and Financial Services Latest committee action: Reported Out; ONTP/OTP-AM

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Filed

Plain English: Page 1 - 132LR0701(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR0701(02) COMMITTEE AMENDMENT 1 L.D.
  • 344 2 Date: (Filing No.
  • H- ) 3HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES 4 Reproduced and distributed under the direction of the Clerk of the House.
  • 5STATE OF MAINE 6HOUSE OF REPRESENTATIVES 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to H.P.

Bill History

  1. 2025-06-09 House

    Reports READ . On motion of Representative MATHIESON of Kittery, the Majority Ought Not to Pass Report was ACCEPTED . Sent for concurrence. ORDERED SENT FORTHWITH.

  2. 2025-06-09 Senate

    Reports Read On motion by Senator BAILEY of York the Majority Ought Not to Pass Report ACCEPTED in concurrence. Placed in Legislative Files (DEAD)

  3. 2025-06-06 Committee

    Reported Out; ONTP/OTP-AM

  4. 2025-05-01 Committee

    Work Session Held

  5. 2025-05-01 Committee

    Voted; Divided Report

  6. 2025-01-30 Committee

    Referred to Committee on Health Coverage, Insurance and Financial Services.

Official Summary Text

An Act to Repeal the Law Establishing the Maine Retirement Savings Board
Sponsor:
Representative Joshua Morris
Reference committee:
Health Coverage, Insurance and Financial Services
Latest committee action:
Reported Out; ONTP/OTP-AM

Current Bill Text

Read the full stored bill text 
Printed on recycled paper
132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 344
H.P. 244 House of Representatives, February 3, 2025
An Act to Repeal the Law Establishing the Maine Retirement
Savings Board
Received by the Clerk of the House on January 30, 2025. Referred to the Committee on
Health Coverage, Insurance and Financial Services pursuant to Joint Rule 308.2 and ordered
printed pursuant to Joint Rule 401.
ROBERT B. HUNT
Clerk
Presented by Representative MORRIS of Turner.
Cosponsored by Representatives: FLYNN of Albion, LANCE of Paris, LIBBY of Auburn,
PAUL of Winterport, QUINT of Hodgdon, SMITH of Palermo, SWALLOW of Houlton,
Senator: HAGGAN of Penobscot.

Page 1 - 132LR0701(01)
1Be it enacted by the People of the State of Maine as follows:
2Sec. 1. 5 MRSA c. 7-A, as amended, is repealed.
3Sec. 2. 5 MRSA §285, sub-§1, ¶F-12, as enacted by PL 2023, c. 167, §14, is
4 repealed.
5Sec. 3. 5 MRSA §12004-G, sub-§33-G, as enacted by PL 2021, c. 356, §2, is
6 repealed.
7Sec. 4. 5 MRSA §17103, sub-§12, as amended by PL 2023, c. 167, §15, is further
8 amended to read:
912. Defined contribution, deferred compensation and tax sheltered annuity plans.
10 The board shall establish one or more defined contribution, deferred compensation or tax
11 sheltered annuity plans consistent with the applicable requirements of the Internal Revenue
12 Code and may, with employer agreement, offer participation in such plans to employees
13 eligible for membership in a retirement program of the retirement system and to employees
14 of the Maine Retirement Savings Board.
15Sec. 5. PL 2021, c. 356, §3, as amended by PL 2023, c. 167, §§16 and 17, is
16 repealed.
17Sec. 6. PL 2021, c. 356, §4 is repealed.
18Sec. 7. PL 2021, c. 356, §5 is repealed.
19SUMMARY
20 This bill repeals the law establishing the Maine Retirement Savings Board and related
21 provisions.
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