Bill > H5210

This bill establishes the Barnstable County Deeds Excise Fund to address the unfunded pension liability for retired sheriff's department employees in Barnstable County. Starting in fiscal year 2021, the county will retain and transfer a portion of the state deeds excise collected in the county to this fund, which will be used solely to meet the county's annual retirement assessment and satisfy the unfunded pension and other benefit liabilities of retired sheriff's office employees. The amount transferred will be determined by agreement between the state, the county, and their respective actuaries. This provision is effective until the county's minimum obligation to fund the sheriff's office is sufficient to cover these liabilities or the unfunded liability is paid in full.

Budget and Finance

House Committee on Ways and Means (H)

https://malegislature.gov/Bills/191/H5210