RD7 - Fiscal Year 2013 Annual Report on Renewal Costs

Executive Summary:
This report addresses Item 83(G) of the 2012 Appropriations Act, which requires the Department of Human Resource Management to report to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees. This report includes analysis to date of the impact of the renewal cost on employee and employer premiums and a valuation of liabilities as required by Other Post Employment Benefit (OPEB) reporting standards.