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Budget Summary FY2016

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Outside Section 164
Data Current as of:  8/19/2015

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Study of employee retirement funding cost obligations

SECTION 164.   There shall be a working group convened to study the retirement funding cost obligations of employers and the required reimbursements of all non-commonwealth employers, agencies, governmental units, independent authorities, boards, commissions, component units of the commonwealth, districts, including regional and regional vocational school districts, educational collaboratives, and planning commissions that participate in or may participate in the state employees' retirement system and whose employees are or may become members of the state employees' retirement system.

The working group shall consist of at least the following 6 members: the secretary of administration and finance or a designee, who shall serve as chair; the chairman of the state board of retirement or a designee; the executive director of the public employee retirement administration commission or a designee; and 3 members to be appointed by the governor, 1 of whom shall represent a regional vocational school district, 1 of whom shall represent an educational collaborative and 1 of whom shall represent a planning commission. The working group may include any additional persons deemed necessary.

The working group shall file a report of its findings and recommendations, along with any draft legislation necessary to implement its recommendations, with the clerks of the senate and house of representatives not later than October 1, 2015.