[SchoolFinance] Meeting 4/9 Private MSMA PFMLA

[Field, Stacie]

My recollection regarding the private plan is that all employees have to be
covered beginning 5/1/2026, even if they are under a CBA that expires after
that.
That information came out of DOL Tuesday.   I have added two months worth
of premiums for my teachers (CBA expires 9/1/2026) in my FY 26 budget.

Stacie Field
Business Manager
RSU 16 - Poland, Mechanic Falls, Minot
207.998.2727 ext 102


On Thu, Apr 10, 2025 at 12:07 PM Sherry Moody <smoody at mcst8.org> wrote:

> The Guardian is the selected company. May 31 is the deadline to submit to
> DOL for a private plan if you want to switch with an effective date of
> 4/1/25.
>
> Employees are not required to participate until collective bargaining
> agreements expire.
>
> We must stay with a private plan for 3 years per statute. Rates offered
> are .88% and .98% (depending upon individual schools.
>
> 82 districts did submit census data. If we participate, you will be the
> policy holder, not MSMA. The Guardian will need census information annually
> as part of our reporting.
>
> A school board vote is required to participate. Wendy Douglas is the
> contact and a letter of intent will be necessary after the board vote.
>
> Wendy will be the contact person at MSMA for this process and afterwards.
>
> Once the private plan application goes to the DOL, the Guardian will need
> an application by November as well.
>
> There is a 13 month exemption period once the process is in place.
>
> These are my own notes so hopefully I got most of it correct.
>
> Sherry
> ----
> Sherry Moody, Business Mgr
> Mid-Coast School of Technology
> 1 Main Street
> Rockland, ME 04841
> (207) 594-2161
> www.mcst8.org
>
>
> On Thu, Apr 10, 2025 at 11:04 AM Heather Reale <hreale at wocsd.org> wrote:
>
>> Hi,
>> Any feedback from the MSMA meeting yesterday on the Private PFMLA
>> options?  I was not able to attend.
>> Thank you
>>
>>
>> *Heather A. Reale, MBA, Finance*
>> Director of Finance
>> Wells-Ogunquit Community School District
>> hreale at wocsd.org
>> 207-641-6909
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