(a) Funding plan required. On or before May 1, 2014 the County Executive shall submit to the County Council a five-year plan for funding the Reserve Fund for Retiree Health Benefits established by § 718(i) of the County Charter.
(b) Contents of plan. The plan shall include recommendations for:
(1) standards for determining the affordability of retiree health benefits that consider future spending levels for the benefits and the ability of County taxpayers to fund the benefits in addition to the value of the benefits to retirees;
(2) any changes to the County's Retiree Health Benefits Program, including any changes to the nature and scope of the benefits themselves, necessary to stay within the recommended affordability standards;
(3) appropriations to the Reserve Fund for Retiree Health Benefits for each of the next five fiscal years, beginning with fiscal year 2015; and
(4) a means of funding retiree health benefits that stays within the recommended affordability standards, to include consideration of funding retiree health benefits on an actuarial basis by contributions from both the County and employees while the future retirees are actively employed by the County.
(c) Advisory committee. The County Executive shall appoint an advisory committee to review and comment on the plan that includes as members employees and retirees as well as citizens not having a direct financial interest in the County's Retiree Health Benefits Program.
(Bill No. 85-13)