This bill appropriates funds from the Public School Employees' Retirement Fund and the PSERS Defined Contribution Fund to cover expenses for the Public School Employees' Retirement Board for the fiscal year from July 1, 2025, to June 30, 2026. Specifically, it allocates $61,403,000 from the Public School Employees' Retirement Fund for salaries, wages, travel expenses, and other necessary costs associated with the board's operations, as well as for settling unpaid bills from the previous fiscal year ending June 30, 2025. Additionally, it designates $1,282,000 from the PSERS Defined Contribution Fund for similar purposes related to the administration of the School Employees' Defined Contribution Plan.

The bill outlines the financial provisions necessary for the board to fulfill its duties and responsibilities effectively. It emphasizes the importance of ensuring that all employees and members of the board are compensated and that any outstanding financial obligations from the previous fiscal year are addressed. The act is set to take effect on July 1, 2025, or immediately thereafter, depending on which date comes later.