FINANCIAL_SERVICESAMENDED

Town Amends Police Pension Plan with MainePERS

Through Resolution 26-64, the Pittsfield Town Council approved an amended retirement agreement with Maine Public Employees Retirement System, adopting Special Plan 2C for union police officers and committing to pay an additional $242,787 in actuarial liability via $2,031 monthly payments over nearly 15 years. The Town Manager is authorized to sign the amended agreement and seek more favorable payment arrangements.

Status
AMENDED
Document date
August 4, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Maine Public Employees Retirement System
Agency
Town of Pittsfield · ME

Trusted by teams at

Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$242,787.00 plus monthly payments of $2,031.00 over 14 years and 10 months
Contract type
FINANCIAL_SERVICES
Contract term
14 years and 10 months beginning September 2026
Renewal date
2041-07-01
Renewal
This action amends the existing retirement contract to adopt Special Plan 2C and establish a long-term amortization schedule for the IUUAL. Payments are scheduled for 14 years and 10 months from September 2026, with potential for alternative arrangements to reduce interest costs; ongoing relationship under MainePERS plans continues beyond the amortization period.
Document type
AgendaPacket
Source document
Pittsfield Town Council AgendaPacket 2026-08-04

Related contracts

Other contracts from Maine Public Employees Retirement System.

View all →

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Pittsfield?

Maine Public Employees Retirement System was awarded this financial services contract by Town of Pittsfield, as recorded on August 4, 2026. The contract value is $242,787.00 plus monthly payments of $2,031.00 over 14 years and 10 months.

How much is the Maine Public Employees Retirement System contract with Town of Pittsfield worth?

The Maine Public Employees Retirement System contract with Town of Pittsfield is valued at $242,787.00 plus monthly payments of $2,031.00 over 14 years and 10 months, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Pittsfield Town Council AgendaPacket 2026-08-04 (AgendaPacket), dated August 4, 2026 from Town of Pittsfield. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Maine Public Employees Retirement System hold?

Maine Public Employees Retirement System may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Maine Public Employees Retirement System's profile

What is Town of Pittsfield currently buying?

Explore Town of Pittsfield's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Pittsfield's profile

Bring us your territory.
We'll show you what is forming.

B2G and SLED sales intelligence. Surface government procurement signals from 80,000+ state, local, and education agencies months before the RFP.

Try Civic IQ for free