Establishes the Joint Legislative Committee on the Unfunded Liability of the Retiree Health Benefit Fund (Committee) as a 13-member Committee with members as follows: five members each from the Senate and the House, the State Treasurer or designee, the State Executive Administrator of the State Health Plan, and a representative of the Board of Trustees of the State Health Plan for Teachers and State Employees. Sets out seven options for reducing unfunded liabilities of the Retiree Health Benefit Fund that the Committee must examine, including increasing assets in the Retiree Health Benefit Fund through appropriation by the General Assembly, and reducing the number of persons eligible for retiree benefits by increasing the service time requirements for benefits or by eliminating benefits for certain groups.
Requires the Committee to issue a final report of findings and recommendations to the 2017 Regular Session of the General Assembly, after which the Committee is terminated.
Bill H 1027 (2015-2016)Summary date: May 3 2016 - More information
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