NC H24

Establishes a Joint Legislative Committee on the Unfunded Liability of the Retiree Health Benefit Fund consisting of 13 members: 5 Senate members appointed by the President Pro Tempore, 5 House members appointed by the Speaker, the State Treasurer (ex officio), the Executive Administrator of the State Health Plan (ex officio), and a Board of Trustees representative (ex officio).

Committee shall examine seven options for reducing the unfunded liability including: increasing Fund assets through General Assembly appropriation, increasing federal cost-sharing through Medicare Advantage enrollment, transitioning from defined benefit to defined contribution model, increasing service time requirements, requiring employee contributions, increasing retiree out-of-pocket costs, and other identified proposals.

Committee cochairs shall be designated by the President Pro Tempore of the Senate and Speaker of the House and may meet at their joint call with a quorum of five voting members.

Committee must issue a final report with findings, recommendations, and any necessary legislation to the 2018 General Assembly upon its convening and shall terminate upon filing the report or when the 2018 General Assembly convenes, whichever is earlier.

Committee expenses shall be paid from the Legislative Services Commission's Reserve for Studies, with individual expenses under $5,000 authorized by a cochair and larger expenses requiring written approval from both legislative leaders.