Amend the committee amendment, as and if amended, page [3066-3], by striking lines 29 - 36 and inserting:
/ (F)(1) Effective July 1, 2013, the following offices, divisions, or components of the State Budget and Control Board and the Department of Administration are transferred to and incorporated into, an administrative agency of state government to be known as the Public Employee Benefit Agency:
(a) the Employee Insurance Program;
(b) the Retirement Division; and
(c) the Insurance Reserve Fund.
Effective July 1, 2011, and until June 30, 2013, any additions or amendments to the State Employee Insurance Plan or the retirement system may not be adopted without the unanimous consent of the State Budget and Control Board. The transition committee established in item (3)(a) is not authorized to make any additions or amendments to the State Employee Insurance Plan or the retirement system.
(2) The Public Employee Benefit Agency shall be comprised of the Employee Insurance Division, the Retirement Systems Division, the Insurance Reserve Fund Division, and the Administration Division. A board of trustees must be appointed to manage and make policy decisions for the Employee Insurance Division and the Retirement Systems Division. The daily office functions and other administrative tasks for all divisions shall be managed through the Administration Division by an executive director.
(3)(a) On the effective date of this section, there is established a transition committee to provide the General Assembly with a plan for the structure of the board of trustees of the Public Employee Benefit Agency and its duties.
(b) The transition committee is authorized to take all executive actions necessary to provide a plan to the General Assembly for an orderly transition of the related trust funds and their operations to the trustee-based system to be administered by the Public Employee Benefit Agency. The transition committee must conduct a comprehensive survey of the structure, trustee governance, and operations of other similar systems throughout the United States and make recommendations to the General Assembly concerning the legislative actions that are needed to implement the most efficient, effective system of governance.
(c) The transition committee shall be comprised of nine voting members and the State Treasurer, ex officio, who shall serve as its chairman and may only vote when the committee is equally divided on any question. The nine voting members must be appointed by the State Budget and Control Board as follows:
(i) one member representing municipal employees;
(ii) one member representing county employees;
(iii) one member representing active state employees;
(iv) one member representing retired state employees;
(v) one member representing active law enforcement officers who is contributing to the Police Officers Retirement system;
(vi) one member representing retired law enforcement officers who is receiving benefits from the Police Officers Retirement system;
(vii) one member representing active public school teachers;
(viii) one member representing retired public school teachers; and
(ix) one member representing the Retirement Investment Commission.
The Budget and Control Board must invite the appropriate associations, groups, and individuals to recommend persons to serve on the board. The Budget and Control Board must appoint members from among the recommendations. Members must be appointed within sixty days of the effective date of this section.
Members of the General Assembly may not be appointed to the transition committee. Members of the transition committee must have substantial academic or professional experience or specialization in one or more areas of public finance, government budgeting and administration, insurance, retirement investment, economics, accounting, or related legal fields.
(d) The members of the committee:
(i) must meet as soon as practicable after appointment to organize itself by electing officers as the committee may consider necessary. Thereafter, the committee must meet as necessary to fulfill the duties required in this subsection at the call of the chairman or by a majority of the members. A quorum exists of seven members. The committee must engage or employ staff or consultants as may be necessary or prudent to assist the committee in the performance of its duties and responsibilities. Any staff or consultants must possess an academic background or substantial career experience of such a nature as to assist the committee in fulfilling its duties, including, but not limited to, being credentialed in structure and board governance policy; and
(ii) shall serve without compensation but may receive the usual mileage, subsistence, and per diem allowed by law for members of state boards, committee, or commissions.
(e) Expenses incurred by the commission shall be paid from the accounts of the the Employee Insurance Program and the Retirement Division.
(f) No later than January 1, 2013, the committee must prepare and deliver a report to the President Pro Tempore of the Senate and the Speaker of the House of Representatives containing the committee's recommendations concerning agency governance structure, statutory changes relative to the transition, and any other actions that must be taken to transition public employee insurance and retirement operations to the Public Employee Benefit Agency.
(g) The transition committee is dissolved on the date that the report is delivered pursuant to subitem (3)(f).
(G) Notwithstanding another provision of law, if the State Budget and Control Board maintains primary responsibility related to a program administered by the Department of Administration, whether the responsibility is regulatory, oversight, approval, or other, the board may receive and expend revenues generated by the programs to support the board's responsibilities related to the programs. The funds may be retained and expended in subsequent fiscal years." /
Renumber sections to conform.
Amend title to conform.