[SchoolFinance] Meeting 4/9 Private MSMA PFMLA

[Field, Stacie]

We would still do quarterly uploads to the State, but no money would be
sent.
I am taking this to my Board on 4/14.  Good luck everyone!

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


On Thu, Apr 10, 2025 at 2:37 PM Sherry Moody <smoody at mcst8.org> wrote:

> 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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