An Act making appropriations from the State Employees' Retirement Fund and from the SERS Defined Contribution Fund to provide for expenses of the State 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.

This bill allocates specific funds from the State Employees' Retirement Fund and the SERS Defined Contribution Fund to cover the operating expenses of the State Employees' Retirement Board for the fiscal year 2024-2025. It directly affects the retirement system by increasing the approved budget for the Board's administrative costs, raising the allocation from $35,960,000 to $39,795,000 and from $5,345,000 to $5,979,000. The legislation also authorizes the payment of any outstanding bills that were not settled by the end of the previous fiscal year. Once signed into law, these financial adjustments ensure the retirement board has the necessary resources to manage its operations and pay existing debts.