State Payment Old Hire Death And Disability Benefits

The act requires the state treasurer to make 2 payments of $6,650,000 to the fire and police pension association for it to deposit in the statewide death and disability trust fund. The first payment on July 1, 2022, is from the general fund, and the second payment on July 1, 2023, is from the newly created death and disability payment cash fund, which consists of money transferred from the general fund on July 1, 2022. (Note: This summary applies to this bill as enacted.)