This bill proposes a transfer of $135,000,000 from the strategic investment and improvements fund to the public employees retirement system fund. The purpose of this transfer is to reduce the unfunded liability of the public employees retirement system main system defined benefit plan. The transfer is scheduled to take place during the biennium beginning July 1, 2025, and ending June 30, 2027.

The bill emphasizes the importance of addressing the unfunded liability within the public employees retirement system, which is crucial for ensuring the financial stability and sustainability of retirement benefits for public employees. By allocating these funds, the legislation aims to strengthen the retirement system and provide greater security for current and future beneficiaries.

Statutes affected:
INTRODUCED: 53-06.1-11.2, 57-39.2-26