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Bill > A4999
NJ A4999
NJ A4999Permits Director of Division of Pensions and Benefits to initiate temporary transfer of funds in certain circumstances.
summary
Introduced
10/21/2024
10/21/2024
In Committee
10/24/2024
10/24/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Permits Director of Division of Pensions and Benefits to initiate temporary transfer of funds in certain circumstances.
AI Summary
This bill permits the Director of the Division of Pensions and Benefits to initiate a temporary transfer of funds from the health benefits fund established under the State Health Benefits Program to the health benefits funds for other public employees, if the available funds in the latter funds fall to a level insufficient to cover 10 days of anticipated payments. The amount transferred cannot exceed what is needed to cover 30 days of anticipated payments, and must be reimbursed within 120 days, or up to an additional 365 days if necessary to ensure sufficient funding for employees of employers other than the State. The Director must provide monthly accounting to the State Treasurer regarding any such transfers.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Substituted by S3838 (1R) (on 10/28/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A4999 |
| Fiscal Note - Fiscal Estimate 10/31/24; 1R | https://pub.njleg.gov/Bills/2024/A5000/4999_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4999_R1.HTM |
| Analysis - Statement AAP 10/24/24 | https://pub.njleg.gov/Bills/2024/A5000/4999_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4999_I1.HTM |
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