An Act making appropriations from the Public School Employees' Retirement Fund and from the PSERS Defined Contribution Fund to provide for expenses of the Public School Employees' Retirement Board for the fiscal year July 1, 2024, to June 30, 2025, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2024.

SB 1006 provides funding for the Public School Employees' Retirement Board to cover its operational expenses for the fiscal year beginning July 1, 2024. The bill authorizes a total appropriation of $62,685,000, which includes an increased budget of $61,403,000 for the Public School Employees' Retirement Fund and $1,282,000 for the PSERS Defined Contribution Fund. This legislation also allocates money to pay bills that were incurred but not yet paid by the end of the previous fiscal year. Once signed into law, the funds will be used to support the administrative functions of the retirement board that serves public school employees.