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LD355 • 2025

An Act to Advance the Maine Retirement Savings Program

An Act to Advance the Maine Retirement Savings Program

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Senator Donna Bailey
Last action
2026-04-16
Official status
Signed by the Governor
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 Advance the Maine Retirement Savings Program

An Act to Advance the Maine Retirement Savings Program Sponsor: Senator Donna Bailey Reference committee: Health Coverage, Insurance and Financial Services Governor action: Signed by the Governor

What This Bill Does

  • An Act to Advance the Maine Retirement Savings Program Sponsor: Senator Donna Bailey Reference committee: Health Coverage, Insurance and Financial Services Governor action: Signed by the Governor

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.

Adopted by House & Senate

Plain English: Page 1 - 132LR0337(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR0337(02) COMMITTEE AMENDMENT 1 L.D.
  • 355 2 Date: (Filing No.
  • S- ) 3HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.
Sponsored By Senator Rotundo of Androscoggin , Adopted by House & Senate

Plain English: Page 1 - 132LR0337(04) SENATE AMENDMENT 1 L.D.

  • Page 1 - 132LR0337(04) SENATE AMENDMENT 1 L.D.
  • 355 2 Date: (Filing No.
  • S- ) 3 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 4STATE OF MAINE 5SENATE 6132ND LEGISLATURE 7SECOND REGULAR SESSION 8 SENATE AMENDMENT “ ” to COMMITTEE AMENDMENT “A” to S.P.

Bill History

  1. 2026-04-16 Governor

    Signed by the Governor

  2. 2026-04-13 House

    PASSED TO BE ENACTED . Sent for concurrence. ORDERED SENT FORTHWITH.

  3. 2026-04-13 Senate

    PASSED TO BE ENACTED , in concurrence.

  4. 2025-06-06 Committee

    Reported Out; OTP-AM

  5. 2025-05-01 Committee

    Work Session Held

  6. 2025-05-01 Committee

    Voted; OTP-AM

  7. 2025-01-30 Committee

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

Official Summary Text

An Act to Advance the Maine Retirement Savings Program
Sponsor:
Senator Donna Bailey
Reference committee:
Health Coverage, Insurance and Financial Services
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR0337(05)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-SIX
_____
S.P. 141 - L.D. 355
An Act to Advance the Maine Retirement Savings Program
Be it enacted by the People of the State of Maine as follows:
Sec. 1. Transfer of settlement funds. Notwithstanding any provision of law to
the contrary, the State Controller shall transfer $625,000 from the Administration -
Attorney General, Other Special Revenue Funds account within the Department of the
Attorney General from funds received from settlement agreements to the Maine Retirement
Savings Program Enterprise fund no later than June 30, 2027.
Sec. 2. Appropriations and allocations. The following appropriations and
allocations are made.
MAINE RETIREMENT SAVINGS BOARD
Maine Retirement Savings Program Z326
Initiative: Allocates funds to the Maine Retirement Savings Program Enterprise Fund to be
used in accordance with the Maine Revised Statutes, Title 5, chapter 7-A.
MAINE RETIREMENT SAVINGS PROGRAM
ENTERPRISE FUND
2025-26 2026-27
All Other $0 $625,000
__________ __________
MAINE RETIREMENT SAVINGS PROGRAM
ENTERPRISE FUND TOTAL
$0 $625,000
APPROVED
APRIL 16, 2026
BY GOVERNOR
CHAPTER
744
PUBLIC LAW