§ 36-12.1-28. Implementation. Notwithstanding any law to the contrary, the provisions of Chapter 36-12.1 entitled “Retiree Health Care Trust Fund” shall be implemented by July 1, 2010. History of Section.P.L. 2009, ch. 5, art. 4, § 2.
§ 36-12.1-3. Background. The general assembly finds that the State faces a significant unfunded liability associated with its retiree health care benefits programs. To date, the State has been funding retiree health care benefits on a pay-as-you-go basis. Recently established governmental accounting standards applicable to the State require that the State account for such unfunded […]
§ 36-12.1-4. Definitions. The following words and phrases as used in the act, unless a different meaning is plainly required by the context, shall have the following meanings: (1) “Actuary” means the actuary retained by the OPEB Board pursuant to § 36-12.1-15 hereof. (2) “Alternate retirement plans” shall mean those retirement plans provided by the […]
§ 36-12.1-5. Establishment of OPEB system. An OPEB System is hereby established and placed under the management of the OPEB Board for the purpose of providing and administering OPEB Benefits for Retired Employees of the State of Rhode Island and their dependants under the provisions of chapter 36-12, entitled “Insurance Benefits”, of this title, and […]
§ 36-12.1-6. Responsibility for administration — rules and regulations. The general administration and the responsibility for the proper operation of the OPEB System and for making effective the provisions of chapter 36-12 of this title are hereby vested in an OPEB Board. The OPEB Board shall, from time to time, establish rules and regulations for […]
§ 36-12.1-7. Composition of the OPEB board. The OPEB Board shall consist of the State Controller, the State Budget Officer, the State Personnel Administrator and the General Treasurer, or their designees. History of Section.P.L. 2008, ch. 9, art. 4, § 3; P.L. 2011, ch. 363, § 32.
§ 36-12.1-8. Meetings of the OPEB board. Meetings shall be held at such place as may be designated in the call of the meeting, provided at no cost to the state, at the call of the chairperson. History of Section.P.L. 2008, ch. 9, art. 4, § 3.
§ 36-12.1-9. Duties of the OPEB board. The OPEB Board shall be responsible for the administration and operation of the OPEB System, determination of the amount of annual contributions, and oversight of OPEB Benefit payments to Retired Employees and their dependents. The OPEB Board shall have the power to collect contributions from the State of […]
