Code of Massachusetts Regulations
801 CMR - EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
Title 801 CMR 53.00 - Accountability And Transparency For State Authorities
Section 53.05 - Prohibition on State-subsidized Benefits

Universal Citation: 801 MA Code of Regs 801.53
Current through Register 1531, September 27, 2024

The commonwealth shall not subsidize the health insurance, pension, and other post-employment benefits of employees and retirees of a state authority that participates in the state retirement system or the Group Insurance Commission. Each such state authority shall contribute the employer share of the cost attributable to that authority of the state retirement system as determined by the actuary of the Public Employee Retirement Administration Commission, and of the state group insurance system as determined by the Group Insurance Commission. Each such state authority shall be responsible for the full actuarial value of its liabilities as determined no less often than every three years by the Public Employee Retirement Administration Commission and the Group Insurance Commission after consulting the Secretary of Administration and Finance, the state Treasurer, and the State Board of Retirement. An authority shall defray its unfunded retirement and other post-employment benefits on the same schedule, if any, that applies to the Commonwealth or on a more rapid schedule.

Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.