Rhode Island § 36-12.1-3 § 36-12.1-3. Background.

Rhode Island Statutes

§ 36-12.1-3 — § 36-12.1-3. Background.

Rhode Island § 36-12.1-3

Title 36Public Officers and Employees

Ch. 36-12.1Retiree Health Care Trust Fund

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Bluebook

R.I. Gen. Laws § 36-12.1-3 (2026).

Text

§ 36-12.1-3. Background.
The general assembly finds that the State faces a significant unfunded liability associated
            with its retiree health care benefits programs. To date, the State has been funding
            retiree health care benefits on a pay-as-you-go basis. Recently established governmental
            accounting standards applicable to the State require that the State account for such
            unfunded costs on an accrued actuarial basis. An actuarial study conducted by the
            State shows that the State faces an unfunded future liability for retiree health care
            benefits in excess of six hundred million dollars ($600,000,000). The creation and
            eventual funding of

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§ 36-12.1-3. Background.

The general assembly finds that the State faces a significant unfunded liability associated with its retiree health care benefits programs. To date, the State has been funding retiree health care benefits on a pay-as-you-go basis. Recently established governmental accounting standards applicable to the State require that the State account for such unfunded costs on an accrued actuarial basis. An actuarial study conducted by the State shows that the State faces an unfunded future liability for retiree health care benefits in excess of six hundred million dollars ($600,000,000). The creation and eventual funding of a dedicated trust fund for the purpose of financing this liability on accrued actuarial basis is fiscally prudent and will produce significant benefits to the State.