This is not the official budget document.

Budget Summary FY2018

Outside Section 97
Data Current as of:  7/20/2017




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Other Post-Employment Benefits Liability

SECTION 97.   (a) Notwithstanding any general or special law to the contrary, the unexpended balances in items 0699-0015 and 0699-9100 shall be deposited into the State Retiree Benefits Trust Fund established pursuant to section 24 of chapter 32A of the General Laws before the certification of the fiscal year 2018 consolidated net surplus pursuant to section 5C of chapter 29 of the General Laws. The amount deposited shall be an amount equal to 10 per cent of all payments received by the commonwealth in fiscal year 2018 under the master settlement agreement in Commonwealth of Massachusetts v. Philip Morris, Inc. et al., Middlesex Superior Court, No. 95-7378; provided, however, that if in fiscal year 2018 the unexpended balances of said items 0699-0015 and 0699-9100 are less than 10 per cent of all payments received by the commonwealth in fiscal year 2018 under the master settlement agreement payments, an amount equal to the difference shall be transferred to the State Retiree Benefits Trust Fund from payments received by the commonwealth under the master settlement agreement.

(b) Notwithstanding any general or special law to the contrary, the payment percentage set forth in section 152 of chapter 68 of the acts of 2011 shall not apply in fiscal year 2018.