The State Employee Benefits Committee established by § 9602 of this title shall have the following powers, duties and functions under this chapter:

(1) Control and management of the State employees group health insurance program provided for in this chapter.

(2) Authority to establish the State employees group health insurance program on an insured or self-insured basis.

(3) Selection of the carriers or third-party administrators deemed to offer the best plan to satisfy the interests of the State and its employees and pensioners in carrying out the intent of this chapter.

(4) Authority to adopt rules and regulations for the general administration of the State employees group health insurance program.

(5) Authority to make and enter into any and all contracts with any agency of the State, or any outside agency, for the purpose of assisting in the general administration of this chapter.

(6) Whenever the balance of the fund equity of the Employees’ Health Insurance Fund exceeds the amount determined by the State Employee Benefits Committee to be sufficient to meet anticipated claims plus a reasonable reserve, the State Employee Benefits Committee, in its sole discretion, may transfer the excess balance or any part of it to the OPEB Fund, established pursuant to Chapter 52B of this title, to provide a source for the future payment of retiree health benefits or the Disability Insurance Program, pursuant to Chapter 52A of this title.

72 Del. Laws, c. 204, § ?7; 76 Del. Laws, c. 70, § ?10;