- The PERA payment cash fund, referred to in this section as the “fund”, is hereby created in the state treasury. The fund consists of money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the PERA payment cash fund to the fund.
- The state treasurer shall pay from the fund any portion of the warrant required to be issued on July 1, 2022, under section 24-51-414 (1)(a) that would have otherwise been paid from the general fund. The state treasurer may pay from the fund some or all of the portion of the warrant required to be issued after July 1, 2022, under section 24-51-414 (1)(a) that would have otherwise been paid from the general fund.
- Subject to annual appropriation, the money in the fund is available to be used by the state for any employer contribution or disbursement required under this part 4.
Source: L. 2021: Entire section added, (SB 21-228), ch. 94, p. 377, § 1, effective May 4.