HB 2408
An Act making appropriations from the State Employees' Retirement Fund and from the SERS Defined Contribution Fund to provide for expenses of the State Employees' Retirement Board for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2026.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill allocates funds from the State Employees’ Retirement Fund and the SERS Defined Contribution Fund to the State Employees’ Retirement Board. The appropriations are intended to cover the board’s expenses for the fiscal year beginning July 1, 2026, and to pay outstanding bills from the previous fiscal year ending June 30, 2026. Specifically, $43,176,000 will be drawn from the State Employees’ Retirement Fund, and $2,879,000 will be taken from the SERS Defined Contribution Fund.
Key provisions
- Appropriates $43,176,000 from the State Employees’ Retirement Fund to the State Employees’ Retirement Board.
- Appropriates $2,879,000 from the SERS Defined Contribution Fund to the State Employees’ Retirement Board.
- Funds are designated for salaries, wages, travel expenses, contractual services, and other expenses of the board.
- The appropriations cover the fiscal year July 1, 2026, to June 30, 2027.
- Funds are also allocated to pay outstanding bills from the previous fiscal year ending June 30, 2026.
- The act takes effect July 1, 2026.
Who is affected
- State Employees’ Retirement Board
- State Employees
- SERS (State Employees’ Retirement System) Participants
Fiscal impact
The bill appropriates $43,176,000 from the State Employees’ Retirement Fund and $2,879,000 from the SERS Defined Contribution Fund.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
G. Roni Green
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