H651 - State Pension/Ret. Health Ben. Fund Solvency. (SL 2018-30)

Overview: S.L. 2018-30 creates the Unfunded Liability Solvency Reserve as a reserve in the General Fund to serve as an account for resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other postemployment benefit plans, or other employee benefit plans.

The act becomes effective October 1, 2018.