SECTION 43.
There shall be a special commission to investigate and study the commonwealth's liability for paying retiree health care and other non-pension benefits. The commission shall specifically examine further legislation necessary to comply with statements no. 43 and 45 of the Government Accounting Standards Board, a possible amortization schedule to fund the commonwealth's liability, and alternatively state borrowing against future tobacco litigation proceeds to fund the commonwealth's liability. The commission shall consist of the chairs of the joint committee on public service, who shall chair the commission, the chairs of the house and senate committees on ways and means, the secretary of administration and finance, the state treasurer, the comptroller, the executive director of the pension reserves investment management board, the executive director of the group insurance commission, or the designees of any of them. The commission shall report its findings and recommendations, including any proposed legislation, to the clerks of the senate and house of representatives not later than December 1, 2007.
Summary:
This section establishes a special commission to study the commonwealth's liability for paying retiree health care and other non-pension benefits.