§87A-42  Other post-employment benefits trust.  [Repeal and reenactment on June 30, 2023.  L 2021, c 229, §9.]  Notwithstanding sections 87A-31 and 87A-31.5, the board, upon terms and conditions set by the board, shall establish and administer a separate trust fund for the purpose of receiving employer contributions that will prefund other post-employment health and other benefit plan costs for retirees and their beneficiaries.  The separate trust fund shall meet the requirements of the Governmental Accounting Standards Board regarding other post-employment benefits trusts.  The board shall establish and maintain a separate account for each public employer within the separate trust fund to accept and account for each public employer's contributions.  Employer contributions to the separate trust fund shall be irrevocable, all assets of the fund shall be dedicated exclusively to providing health and other benefits to retirees and their beneficiaries, and assets of the fund shall not be subject to appropriation for any other purpose and shall not be subject to claims by creditors of the employers or the board or plan administrator.  The board's powers under section 87A-24 shall also apply to the fund established pursuant to this section. [L 2012, c 304, §1; am L 2013, c 268, §8; am L 2015, c 121, §4; am L 2020, c 70, §2; am L 2021, c 229, §3]

Note

  The L Sp 2021, c 1, §8 amendment, not included in this Supplement, shall take effect upon the reenactment of this section on June 30, 2023, pursuant to L 2021, c 229, §9.  L Sp 2021, c 1, §25; L 2022, c 109, §15.

  The L 2022, c 247, §2 amendment, not included in this Supplement, is effective July 1, 2023.  L 2022, c 247, §4.

  Authorization to create fund requires Government Accounting Standards Board requirements.  L 2012, c 304, §2.

  Public employer contributions into trust fund (fiscal period 2014-2019).  L 2013, c 268, §11.