[SchoolFinance] Meeting 4/9 Private MSMA PFMLA

[Sherry Moody]

Yes, Stacie is correct. The deduction for all employees (even those under a
CBA) would be 5/1/26. Deb also clarified this with the slides.

Heather asked about payments and I don't have anything in my notes but
don't believe the State will receive anything from us if we go with a
private plan.

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 2:24 PM Field, Stacie <sfield at rsu16.org> wrote:

> 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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>>> SchoolFinance mailing list
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>>> http://maillist.informe.org/mailman/listinfo/schoolfinance
>>
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