Maine HB 650 & SB 184 Implements the recommendation of the Judicial Compensation Commission that members of Maine’s judiciary with retirement contributions earned in the Legislative Retirement Program be allowed to fully transfer these contributions to the Judicial Retirement Program. Requires any member who transfers retirement contributions from the State Employee and Teacher Retirement Program or the Legislative Retirement Program to pay the costs to have the contributions transferred to the Judicial Retirement Program. Signed into law by Governor 6/4/09.
Maine HB 1120 Brings various public employees retirement systems, including the Judicial Retirement Program, into IRS compliance. Specifies Judicial Retirement Program as a governmental qualified defined benefit plan pursuant to Sections 401(a) and 414(d) of the Internal Revenue Code and such other provisions of the Internal Revenue Code and United States Treasury regulations and other guidance as are applicable. Details vesting, use of forfeitures, benefits, etc. in a manner to comply with the Internal Revenue Code. Signed into law by Governor 2/23/10.
New Hampshire SB 1512 Allows judges who resign from office to elect to receive a deferred retirement benefit under the judicial retirement plan. Approved by full House 3/3/10.
New Hampshire SB 357 Authorizes the judicial retirement plan to deduct a health insurance premium contribution from allowances. Approved by full Senate 2/17/10.
New Jersey SB 2 Provides that new members of the Judicial Retirement System (JRS) will not have a non-forfeitable right to receive benefits upon the attainment of five years of service credit. Signed into law by Governor 3/22/10.