MMA Legal Services Staffing Changes
The MMA Legal Services Department will be short-handed during the next few months as a result of several recent developments. Jim Katsiaficas, Senior Staff Attorney, will be joining the law firm of Perkins, Thompson, Hinckley & Keddy as a partner/principal in mid-September. Antoinette Mancusi, Research Associate/Technical Advisor, will also be leaving MMA in mid-September to work for the Coastal Community Association as an educational trainer. In addition, Staff Attorney Michael Stultz was called to active duty in the U.S. Navy Reserve for a three-month period through the end of October. MMA extends best wishes to Jim and Antoinette as they move to their new positions and appreciates Michael’s military services. During the next several months we will do our best to respond on a timely basis to legal inquiries and to deliver training programs, but we will appreciate your understanding of our reduced staffing capacity during this period.
Fiscal Survey Available
MMA has published its 2004 Municipal Fiscal Survey which is available online for members (in the password protected area) or can be ordered for $25 members and $75 non-members.
To order the publication, contact MMA Publications at 1-800-452-8786 ext. 386.
Interest Charges by MSRS
Maine State Retirement System (MSRS) Rule 201 calls for interest to be assessed on late remittances to the MSRS by public schools and participating local districts. Beginning late this year, MSRS will implement this long-standing requirement.
The due date for payroll reports and remittances is no later than the 15th of the month following the month for which the report is submitted. For example, November payroll reports and remittances are due at MSRS by December 15 th . MSRS will implement this requirement beginning with the November payroll report. Therefore, employer reports and remittances not received by the established due date will be assessed interest at the rate of 6% (annualized) on the total amount due. Interest will continue to accrue until such time that payment is received.
Interest will be calculated at the time that the late payment is received by the MSRS and employers will see an interest charge on their next monthly statement. Payment of the interest in full will be due with the next payroll report submitted after the employer has been notified of the assessment of an interest charge.
Additional information regarding the assessment of interest charges on late remittances to the MSRS is available at www.msrs.org/interest.htm