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PROGRAM CREATE FORM - University of Maine System - maine

PROGRAM CREATE FORM - University of Maine System - maine 2025

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The document is a Program Create Form used for initiating a new program within a business unit. It includes fields for program details such as effective date, description, purpose, expense code, and various chart field combinations. Additionally, it outlines the authorization process and includes sections for signatures and approvals from relevant authorities.

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Can I collect both Maine State retirement and social security?

Employees contribute 7.65% of salary out of each paycheck to the pension fund. The average retirement benefit is $20,151 per year, or $1,679 per month. The State Employee and Teacher Program covers 39,360 active employees and 30,485 retirees and beneficiaries.

What are the retirement benefits of the University of Maine system?

UMS offers competitive 403(b) and 457(b) retirement programs, including Roth options. For full-time salaried employees, the University contributes an amount equal to 10% of base salary on the basic 403(b) plan. For full-time hourly employees, the University will match contributions up to 4% of base salary.

Is the University of Maine prestigious?

Rankings Ratings University of Maine is one of the top universities in Orono, United States. It is ranked #251-300 in QS WUR Ranking By Subject 2025.

What is the University of Maine System retirement plan?

Retirement Plan - UMS offers a retirement plan administered by TIAA, where both the employee and the employer contribute. Employee and employer basic contributions are made to the 403(b) Defined Contribution Pension Plan. The unit member contribution is 4% and University share 10% for an annual total of 14%.

How does the Maine State retirement system work?

State employees covered by the regular plan contribute 7.65% of their gross earnable compensation. For those covered under special retirement plans, refer to the tables in the State Member Handbook. Your MainePERS membership ends upon your retirement, upon your death, or if you take a refund of your contributions.