Permits Director of Division of Pensions and Benefits to initiate temporary transfer of funds in certain circumstances.

Senate Bill 3838 allows the Director of the Division of Pensions and Benefits to temporarily transfer funds between two health benefits funds when the target fund (for dependents and employer health benefits) falls below a 10-day funding threshold. The Director can move funds from the main health benefits fund to cover up to 30 days of anticipated payments, including premiums, claims, and other charges, based on six-month averages. Transferred funds, plus interest, must be repaid within 120 days (with possible extensions up to 365 days total) to the target fund. The Director must notify the State Health Benefits Commission within 30 days and provide monthly reports to the State Treasurer detailing transfers, balances, and repayments.