Benefits Commission Issues Its Final Report

As reported previously, the Public Employees’ and Retirees’ Benefit Sustainability Commission met recently to discuss and vote on its final report.  As a part of its final report, the Commission reiterated its recommendation from the 2010 Interim Report to phase in a requirement that local boards  of education pay half of the total retirement costs for their employees. Other recommendations address the transition of the retiree prescription plan to mirror Medicare Part D, further study of adding a hybrid benefit option for new employees, closer examination of cost of living adjustments, and the development of an alternative funding method.  The final report can be found on the Commission’s website.

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