Bill > S3838

This bill permits the Director of the Division of Pensions and Benefits to initiate a temporary transfer of available funds from the health benefits fund established under the State Health Benefits Program to the health benefits funds for local government employers and school districts. The transfer can only be made if the available funds in the local government and school district funds fall below the level needed to cover 10 days of anticipated payments, including premiums, claims, and other charges. The transferred amount cannot exceed what is needed to cover 30 days of anticipated payments and must be reimbursed within 120 days, with a possible extension of up to an additional 365 days. The Director must provide monthly reports to the State Treasurer on any transfers made, outstanding balances, and current fund balances.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2024/S3838