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2007 Vetoed Bills and Messages
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H.B. 1247
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(5) review the eligibility requirements for State retiree health care
benefits with a particular emphasis on whether the requirements are appropriate and
equitable;
(6) review alternative vehicles for providing health care benefits to
State retirees including Voluntary Employee Beneficiary Accounts (VEBAs), Section
401(h) accounts, Section 115 trusts, health reimbursement arrangements, and health
savings accounts; and
(7) recommend a multiyear implementation plan to address fully
funding the obligations of the State as set forth in GASB Statement 45 as soon as
practicable.
(f) (1) The Commission shall be staffed by the Department of Legislative
Services.
(2) (i) The Department of Budget and Management shall provide
any information the Commission may require with regard to health care benefits and
health benefit costs for State employees and retirees.
(ii) If the Department of Budget and Management is unable to
provide the information requested by the Commission under subparagraph (i) of this
paragraph, the Commission may contract with an independent health care consulting
firm for assistance.
(3) (i) The Department of Budget and Management shall provide
the funding for the Commission to hire more than one actuarial consulting firm and a
health care consulting firm.
(ii) 1. The Commission may request up to two actuarial
valuations annually.
2. If the Commission requests two actuarial valuations
in the same year, each shall be performed by a different actuarial consulting firm.
(g) On or before December 31, 2008, the Commission shall issue a final
report of its findings and recommendations to the Governor and, in accordance with §
2-1246 of the State Government Article, the General Assembly.
SECTION 2. AND BE IT FURTHER ENACTED, That:
(a) On or before August 1, 2007, the State Retirement Agency shall request a
determination letter ruling from the Internal Revenue Service that confirms the
qualification of the Postretirement Health Benefits Trust Fund under Section 1 of this
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- 4850 -
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