This bill appropriates funds from the State Employees' Retirement Fund and the SERS Defined Contribution Fund to cover expenses for the State Employees' Retirement Board for the fiscal year from July 1, 2025, to June 30, 2026. Specifically, it allocates $39,795,000 from the State 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 $5,979,000 from the SERS Defined Contribution Fund for similar purposes related to the administration of the State 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 all contractual services and operational expenses are covered. The act is set to take effect on July 1, 2025, or immediately thereafter, ensuring timely funding for the board's activities.