RELATING TO THE EMPLOYEES' RETIREMENT SYSTEM.

Transfers the Deferred Compensation program to the Employees' Retirement System.

RELATING TO THE PUBLIC EMPLOYEES HEALTH FUND.

Allows the Health Fund to return the employees' share of insurance carrier refunds to beneficiaries based on their years of benefit plan participation

RELATING TO THE PUBLIC EMPLOYEES HEALTH FUND.

Specifies that the amount ported to the employee organizations for health benefit plans and group life insurance be based on a percentage of the most cost effective plan that provides the same level of benefits for participants in plans of the Public Employee Health Fund and employee organizations. Sets forth other administrative and operational changes.

RELATING TO EMPLOYEES' RETIREMENT SYSTEM.

Proposes defined contribution retirement plan for certain public employees as an optional retirement plan.

RELATING TO LABOR.

Ensures that employees who are unemployed due to a labor dispute are eligible for unemployment benefits if the parties have reached an impasse and prior to a work stoppage an offer is made to submit the dispute to binding arbitration.