Enrolled Bill Summary

Senate Bill 1568 creates a new retirement health care statutory trust for firefighters and police in certain cities of 750,000 or more people that is not administered by the applicable municipality. The fund provides health benefits for persons who retired on or after October 1, 1989. The act specifies representation and duration of membership on the board of the trust, authorized staff, and duties and policies related to administering and investing the fund and designates October 1, 1998, as the deadline for municipalities to transfer money from the existing health trust fund to the one established by the act. The act provides that fund membership, contributions, and benefits are to be determined by the collective bargaining agents of the firefighters and police officers.