Section 411-510-5 - DETERMINING THE ANNUITY FACTORS TO BE USED FOR SECTION 41.Selecting the Applicable Table. To determine the "annuity factor at age of retirement" or the "annuity factor at age at effective date of lump-sum settlement," use Table AA of Chapter 303. NOTE: As of the effective date of this rule, judicial retirement, legislative retirement, and Maine State Retirement System plans for state employees and teachers all include COLAs. Some Participating Local District ("PLD") plans include COLAs and others do not.
2.Determining the "Annuity Factor for Recipient's Age at Retirement." To determine the "annuity factor for recipient's age at retirement," use the applicable Table to locate the annuity factor that corresponds to the recipient's attained age as of the first day of the first month for which he or she received Retirement System plan disability benefits. If the recipient's previous birthday was six months or more prior to the first day of the first month for which he or she received Retirement System plan disability retirement benefits, then use the recipient's age at his or her next birthday to locate the applicable annuity factor.3.Determining the "Annuity Factor for Recipient's Age at Effective Date of Lump Sum Settlement. To determine the "annuity factor for recipient's age at effective date of lump-sum settlement, use the applicable Table to locate the annuity factor that corresponds to the recipient's attained age as of the effective date of the lump-sum settlement. If the recipient's previous birthday was six months or more prior to the effective date of the lump-sum settlement, then use the recipient's age at his or her next birthday to locate the applicable annuity factor.94-411 C.M.R. ch. 510, § 5