AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO APPROPRIATIONS FOR POST-RETIREMENT HEALTH INSURANCE PREMIUMS.

The Other Post-Employment Benefits Fund (OPEB Fund) is used to pay the State's benefits for post-retirement health insurance under the State employees' pension plan. This Act requires that every year, at least 1% of the grand total of all General Fund operating budget appropriations for the prior fiscal year is appropriated to the OPEB Fund. The total amount of the contributions to the OPEB Fund is not allowed to exceed the annual required contribution, which is actuarially determined by the Board of Pension Trustees. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.