Date of Award
Master of Public Policy and Management (PPM)
Public Policy and Management
Maine State Retirement, Muskie School of Public Service
Maine has seen membership in the Maine Retirement System fluctuate from 1991 to 2013 while members receiving benefits has increased year over year. In an article published in the Portland Press Herald on July 24, 2010 titled Maine’s Unfunded Pension Liability Looms as Election Issue, the unfunded liability is reported as having increased from $3.1 billion to $4.4 billion through the recent financial crisis beginning in 2008.
The unfunded liability exists because of insufficient historical general funding and increases in retirement benefits without increases in funding numerous times.
Hanks, Christopher J., "Maine State Retirement and The Unfunded Liability: A History of Legislative Changes and Financial Trends 1991 – 2013" (2014). Muskie School Capstones and Dissertations. 55.