Bill Summaries: S22 (2017-2018 Session)

  • Summary date: Jan 31 2017 - View summary

    Identical to H 24 filed on 1/26/17.

    Creates the Joint Legislative Committee on the Unfunded Liability of the Retiree Health and Benefit Fund (the Committee). Sets out the membership of the Committee to be 13 total members, with five each appointed by the President Pro Tempore of the Senate and the Speaker of the House, with the State Treasurer and the Executive Administrator of the State Health Plan, or their designees, and a representative of the Board of Trustees of the State Health Plan for Teachers and State Employees selected by the Board, serving as ex officio nonvoting members. Provides that cochairs are to be appointed by the President Pro Tempore and the Speaker from the Committee’s membership.

    Provides additional requirements regarding the setting of meetings, staffing, and the general operation of the Task Force.

    Directs the Committee to examine seven specified options for reducing the unfunded liability of the Retiree Health Benefit Fund (Fund), including increasing the Fund’s assets through appropriation by the General Assembly, increasing the costs of retiree benefits borne by the federal government, transitioning the retiree benefit to a defined contribution model, reducing the number of those eligible for the benefit by increasing the service time requirements for the benefit or eliminating certain groups, requiring employees to contribute to the Fund, and increasing the amount that retirees pay for their health benefits by increasing premiums or out-of-pocket costs.

    Requires the Committee to issue a final report of its findings and recommendations to the 2018 General Assembly. Requires the Commission to terminate upon the filing of its final report or upon the convening of the 2018 General Assembly, whichever occurs first.