New York S10630 authorizes county, city, village, or town governing boards to establish reserve funds for other post-employment benefits (OPEB) for.
New York S10630 amends the general municipal law to allow the governing boards of counties, cities, villages, and towns to establish one or more OPEB reserve funds. These funds are intended to finance all or part of the cost of providing OPEB, such as health insurance, life insurance, disability benefits, and long-term care benefits, to eligible retired employees and their dependents. The funds can be financed through budgetary appropriations, revenues, gifts, grants, and contributions. Interest and capital gains from these funds accrue to the respective funds.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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