An act relating to unclaimed property, State retirement systems, and capital debt

Summary

The act changes how unclaimed property is reported and claimed, imposes a 1% per month penalty on employers who miss retirement‑system contribution deadlines, and establishes a short‑lived Pension and Benefits Funding Task Force to study system funding. It also moves fiduciary responsibility for state employee and teacher post‑employment benefits to the Vermont Pension Investment Commission and adds new reporting metrics for capital‑debt affordability. These changes affect state agencies, retirement‑system employers, retirees, and the Treasury’s staffing.

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