State Contribution to Fire & Police Pension Association Death & Disability Fund
The bill requires the state treasurer to pay a total of $27.39 million, in 3 equal payments of $9.13 million, to be made on July 1, 2024, July 1, 2025, and July 1, 2026, $2 million fifty thousand dollars beginning on July 1, 2025, and every July 1 thereafter through July 1, 2059, to the fire and police pension association for it to deposit into the trust fund so that there will be sufficient money to pay future death and disability benefits to these members.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)