Bill
Bill > H4006
MA H4006
Relative to the other post employment benefits trust fund of the town of Wellesley
summary
Introduced
11/02/2017
11/02/2017
In Committee
Crossed Over
12/28/2017
12/28/2017
Passed
01/02/2018
01/02/2018
Dead
Introduced Session
190th General Court
Bill Summary
Substituted by the House, on motion of Mr. Speliotis of Danvers, for a bill with the same title (House, No. 3724). November 2, 2017.
AI Summary
This bill amends Chapter 88 of the acts of 2004 to establish an Other Post-Employment Benefits (OPEB) Trust Fund for the town of Wellesley. The key provisions include defining important terms such as "OPEB liability" and "unfunded OPEB liability," establishing the OPEB Trust Fund to be managed by the town treasurer, requiring regular actuarial determinations of the OPEB liability, and setting up a schedule of annual payments to reduce the unfunded OPEB liability over a period of up to 30 years. The bill also specifies that all payments for the town's share of retiree healthcare costs must be made from the OPEB Trust Fund.
Sponsors (1)
Last Action
Enacted and laid before the Governor (on 01/02/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H4006 |
| Bill | https://malegislature.gov/Bills/190/H4006.pdf |
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