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May 5, 2006 - This week, Senator Richard T. Moore (D-Uxbridge), announced that the Massachusetts Senate gave initial approval of a bill which allows the town of Bellingham to establish a group insurance liability fund. The Fund would help to cover the premium and claims associated with providing health and life insurance to retired employees and eligible surviving spouses or dependents of deceased employees. This bill is similar to bills filed for other cities and towns in the Commonwealth.
“This legislation has been locally approved by the people of Bellingham,” said Moore. “It’s gratifying to see the Senate respond to the town’s wishes in such a timely manner.”
Under this bill, town’s chief financial officer and treasurer will work closely together to see that the fund's assets are invested prudently and in the best interest of the citizens of Bellingham. The fund is under the supervision and management of the chief financial officer and the town's treasurer is the custodian of the fund.
The bill now moves to the House of Representatives for consideration.
To learn more about Senator Moore’s legislation and his work in the Massachusetts Senate, log onto his web site at
www.senatormoore.com.
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