Introduced
by
To authorize a state grant program to give county road commissions money to pay off the unfunded pension liability and unfunded retiree health insurance benefit debt they have accumulated by failing to fund the benefit promises they made. Road commissions would have to close their pension and retiree health benefit systems to new employees to qualify for a grant. The bill would require they have “irrevocable trusts” to hold the money for post-retirement health benefit.
Referred to the Committee on Financial Liability Reform
