I. Each of the following state agencies shall provide 10-year cost projections for the identified service or program:
(a) The department of administrative services: state retiree health insurance, and in conjunction with the department of revenue administration, state revenues.
(b) The state treasurer: debt service.
(c) The department of education: adequate education grants.
(d) The New Hampshire retirement system: state employer retirement contributions.
II. The cost projections shall be based on current policy, programs, and tax rates, and shall be adjusted only for demographically-induced changes in demand for public services and projected effects on state government revenues and expenditures.