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§ 1799.7-E. State Employees' Retirement System Restricted Account

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: October 30, 2017

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 72 P.S. Taxation and Fiscal Affairs
Chapter 1. The Fiscal Code (Refs & Annos)
Article XVII-E. General Budget Implementation
Subarticle F. Other Agencies
Effective: October 30, 2017
72 P.S. § 1799.7-E
§ 1799.7-E. State Employees' Retirement System Restricted Account
Currentness
(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.

Credits

1929, April 9, P.L. 343, No. 176, art. XVII-E, § 1799.7-E, added 2017, Oct. 30, P.L. 725, No. 44, § 16.3, imd. effective.
72 P.S. § 1799.7-E, PA ST 72 P.S. § 1799.7-E
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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