Ga. Comp. R. & Regs. R. 111-4-1-.13 - Georgia Retiree Health Benefit Fund
(1)
Functions, Duties and
Responsibilities of the Board of Community Health. The Board shall
establish the Georgia Retiree Health Benefit Fund (GRHBF). The Board in its
official capacity shall be the GRHBF's trustee. The Board shall annually review
Other Post Employment Benefits (OPEB) liability. The Board shall determine
Annual Required Contributions (ARC), which may not be the same as employer and
employee contribution rates. The Board shall also determine annual employer and
employee contribution rates. The Board shall collect employee and employer
contributions and deposit the contributions into the GRHBF. The Board may
utilize the investment services of the Employee Retirement System, Division of
Investment Services to invest a portion of the GRHBF for long-term investments.
No member of the Board or employee of the Department shall have any personal
interest in the gains or profits from any investment made by the Board or use
the assets of the GRHBF in any manner, directly or indirectly, except to make
such payments as may be authorized by the Board or by the Commissioner as the
executive officer of the Board.
(a)
Establish and Design Plan. The Board is authorized to establish
the GRHBF to collect employee and employer contributions for OPEB. The Board
shall account for employee and employer contributions by each pension plan, as
delineated at
111-4-1-.01(50),
separately.
(b)
Promulgate
Regulations. The Board is authorized to adopt and promulgate rules and
regulations for the effective administration of the GRHBF.
(c)
Establish
Contributions
on
Behalf of Retirees. The
Board shall establish by Resolution, contributions by public school teacher
retirees, retired public school employees, retired State employees, and any
other Annuitant listed at
111-4-1-.01(50) and
shall deposit those contributions into the GRHBF. The Board shall consider the
actuarial estimates of OPEB in establishing the contributions.
(d)
Establish Employer Rates.
The Board shall establish by Resolution, OPEB employer contribution rates and
shall deposit those contributions into the GRHBF.
(2)
Functions, Duties and
Responsibilities of the Commissioner. The Commissioner in his or her
official capacity shall be the Administrator of the GRHBF and shall be the
custodian of the GRHBF.
(a)
Administer
Regulations and Policies. The Commissioner shall administer the GRHBF
consistent with Board regulation and policy. The Department shall contract with
the Division of Investment Services of the Teachers Retirement System of
Georgia and the Employees' Retirement System of Georgia with respect to GRHBF
investments. The Department shall maintain all necessary records regarding the
GRHBF in accordance with generally accepted accounting principles. The
Department shall collect all moneys due to the GRHBF and shall pay any
administrative expenses necessary and appropriate for the operation of the
GRHBF from the GRHBF.
(b)
Annual Report. The Department shall prepare an annual report of
GRHBF activities for the Board, the House Appropriations Committee, and the
Senate Appropriations Committee. Such reports shall include, but not be limited
to, audited financial statements. The reports shall contain the most recent
information reasonably available to the Department reflecting the obligations
of the GRHBF, earnings on investments, revenue and expenses by pension plan,
and such other information as the Board deems necessary and appropriate. This
report shall reflect activity on a state fiscal year basis. The Department
shall be entitled to any information that it deems necessary and appropriate
from a retirement system, as delineated at
111-4-1-.01(50), so
that the provisions of Code Section 45-18-103 may be fulfilled.
(c)
Regulations. The
Commissioner shall recommend to the Board amendments to the regulations, submit
the approved regulations to appropriate filing entities, cause all regulations
to be published, and provide a copy to the Employing Entities.
(d)
Provide Notice of OPEB Employer
Contribution. The Commissioner shall provide notice and certification of
the required OPEB employer contribution rate to each of the Employing Entities
and the Department of Education on or before June 1st of each year.
(3)
Duties and
Responsibilities of Employing Entity. Each Employing Entity is
responsible for complying with these regulations. It shall be the
responsibility of State agencies to make contributions to the GRHBF, subject to
appropriations, in accordance with the OPEB employer contribution rate
established by the Board. It shall be the responsibility of all other Employing
Entities to make contributions to the GRHBF in accordance with the OPEB
employer contribution rates established by the Board in addition to the
employer contributions required to be made to the GRHBF for the health plan as
determined from fiscal year to fiscal year.
(a)
Deduct Enrolled Member Premium
Amounts. The Employing Entity shall withhold the contribution rate as
approved by the Board.
(b)
Remit Employer Contributions. The Employing Entity shall calculate
and remit the appropriate OPEB employer contribution.
Notes
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