Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 1799.7-E - State Employees' Retirement System Restricted Account.(a)Authority.--Notwithstanding any other law to the contrary, the State Employees' Retirement Board shall receive, as part of the amounts transferred to the board, an amount of $5,269,000 to be placed in a restricted account for use by the board.(b) Use of funds.--The funds shall only be expended for the purpose of paying the administrative expenses of the board to establish and implement the State Employees' Defined Contribution Plan established under 71 Pa.C.S. Ch. 58 (relating to State employees' defined contribution plan).(c) Nature of funds.--No funds may be transferred under subsection (a) that are otherwise required to be transferred to the board for any other purpose required by law.Added by P.L. TBD 2017 No. 44, § 16.3, eff. 10/30/2017.