SB175 Summary

• Requires the annual Budget Act to appropriate at least 1% of the prior fiscal year's total General Fund operating budget appropriations to the OPEB Fund for post-retirement health insurance premiums.

• Caps total OPEB Fund contributions to not exceed the annual required contribution as actuarially determined by the Board of Pension Trustees.

• Modifies § 5544(c)(2) to replace the previous formula-based appropriation method with a minimum percentage-based appropriation tied to overall General Fund spending.

• Requires the OPEB Fund appropriation to be included in the Director of the Office of Management and Budget's budget review, the proposed budget plan, and the Governor's Budget Appropriation Bill submitted to the General Assembly.

• Makes technical grammatical and stylistic corrections to conform existing law to the Delaware Legislative Drafting Manual standards.