Relates to other post-employment benefits reserve funds for counties, cities, villages, towns and school districts

Summary

The bill authorizes local governments to create dedicated reserve accounts to pay health, life, disability, long‑term care and other post‑employment benefits for retired employees and their dependents. It sets rules for how money can be contributed, invested, and spent, requires regular actuarial valuations and public reporting, and makes unauthorized withdrawals a misdemeanor. The measure does not alter existing benefit rights or collective‑ bargaining agreements.

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