(a)  The general treasurer shall establish and convene an advisory working group to assist in the review and analysis of the impacts of the Rhode Island Retirement Security Act of 2011 on the state’s public retirement systems and their current and retired members. The working group shall develop options for consideration by the general assembly that may be needed to improve the pension programs or address any unintended consequences of the Act. Options, to the extent possible, shall include a clear cost-benefit analysis.

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(b)  The advisory working group may include, but not be limited to, designees from the following: the office of the general treasurer, actuarial professionals, public sector unions, state and/or national organizations interested in pension reform and sustainability, pension advocacy groups, and financial and investment professionals.

(c)  On or before March 1, 2024, the general treasurer shall forward a report containing the findings, recommendations and proposed options for consideration to the governor, speaker of the house, and president of the senate.