Bill Summary for S 637 (2015-2016)

Summary date: 

Mar 30 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
Senate Bill 637 (Public) Filed Thursday, March 26, 2015
AN ACT TO INCREASE EFFICIENCY IN THE ADMINISTRATION OF AFTER TAX BENEFIT PLANS BY THE UNIVERSITY OF NORTH CAROLINA BY EXEMPTING THE UNIVERSITY FROM CERTAIN OBSOLETE REQUIREMENTS.
Intro. by Tarte, Stein.

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Bill summary

Amends GS 58-31-60 by exempting the UNC System from the requirement of appointing an Employee Insurance Committee.

Enacts new GS 58-31-62, specifying that this statute applies to state government payroll units associated with UNC, instead of GS 58-31-60. Gives the UNC President the authority to (1) review insurance products currently offered through payroll deduction to employees to determine if those products meet the needs and desires of employees, (2) select the types of insurance products that reflect the needs and desires of employees, and (3) competitively select the best insurance products to reflect the needs and desires of employees. Provides that each payroll unit overseen by the President is entitled to no less than four payroll deduction slots to be used for the payment of insurance premiums for products selected and offered to employees. Sets out further provisions governing the use of those slots. Sets out the procedure for selecting insurance product proposals.  Makes it a Class 3 misdemeanor to open a sealed insurance product proposal or to disclose or exhibit the content of a sealed proposal before the public opening.

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