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Sunday, December 22, 2024

Maine reports $695,093 in public pension contributions in 2020

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Maine Governor Janete Trafton | maine.gov Official website

Maine Governor Janete Trafton | maine.gov Official website

In 2020, Maine had received $695,093 in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

All contributions were made to state government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Maine reported data from one pension systems. The total number of pension system members was 157,015.

Contributions to Maine's public pension funds
LocalStateLocal & State
Employee contributions$0$214,635$214,635
Government contributions$0$480,459$480,459
Total Contributions$0$695,093$695,093
Source: US Census Bureau

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