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PARRIS N. GLENDENING, Governor
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Ch. 348
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CHAPTER 348
(House Bill 164)
AN ACT concerning
Task Force to Study the State's Retiree Health Insurance Liabilities
FOR the purpose of establishing a Task Force to Study the State's Retiree Health
Insurance Liabilities; providing for the membership, chairman, duties, and
staffing of the Task Force; requiring the Task Force to report to the Governor
and the General Assembly on its findings; and generally relating to the
establishment of a Task Force to Study the State's Retiree Health Insurance
Liabilities.
Preamble
WHEREAS, Maryland, like the majority of states around the country, partially
subsidizes the health insurance premiums for retired State employees, and currently
funds this subsidy on a "pay-as-you-go" basis; and
WHEREAS, This subsidy will grow dramatically in the future due to the
growing number of State retirees and the escalation in health care costs; and
WHEREAS, The unfunded liabilities associated with this subsidy are informally
estimated at $3 billion; and
WHEREAS, To address these growing costs a growing minority of states have
begun to prefund these liabilities; and
WHEREAS, Maryland currently has a fully funded pension system; and
WHEREAS, It is important that plans be made to ensure adequate funding for
the State's subsidy of retiree health insurance; now, therefore,
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:
(a) There is a Task Force to Study the State's Retiree Health Insurance
Liabilities.
(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; and
(2) three members from the Senate, appointed by the President of the
Senate.
(c) The President of the Senate and the Speaker of the House of Delegates
shall jointly designate the Chairman of the Task Force.
(d) The Task Force shall:
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- 2905 -
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