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ROBERT L. EHRLICH, JR., Governor Ch. 298
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2005.
Approved May 10, 2005.
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CHAPTER 298
(Senate Bill 305)
AN ACT concerning
Task Force to Study Retiree Health Care Funding Options and Alternative
Retirement System Options
FOR the purpose of establishing a Task Force to Study Retiree Health Care Funding
Options and Alternative Retirement System Options; providing for the
membership, chair, duties, and staffing of the Task Force; requiring the Task
Force to report to the Governor and the General Assembly on its findings;
providing for the termination of this Act; and generally relating to the
establishment of a Task Force to Study Retiree Health Care Funding Options
and Alternative Retirement System Options.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:
(a) There is a Task Force to Study Retiree Health Care Funding Options and
Alternative Retirement System Options.
(b) The Task Force shall consist of the following members:
(1) three members from the House of Delegates, appointed by the
Speaker of the House from among, the members of the Joint Committee on Pensions;
(2) three members from the Senate, appointed by the President of the
Senate from among the members of the Joint Committee on Pensions; and
(3) the Treasurer, or the Treasurer's designee;
(4) the Comptroller, or the Comptroller's designee; and
(3) (5) the Secretary of Budget and Management, or the Secretary's
designee.
(c) The President of the Senate and the Speaker of the House of Delegates
shall jointly designate the Chair of the Task Force;
(d) The Task Force shall:
(1) commission an actuarial valuation of the liabilities associated with
the State's retiree health insurance subsidy and in accordance with the standards
established in the Government Accounting Standards Board Statement 45, with the
costs of the valuation to be borne by the Department of Budget and Management; and
- 1517 -
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