HB5721 Summary

• Appropriates $1,997,810,000 from the General Revenue Fund to the Board of Trustees of the State Universities Retirement System for the State's contribution.

• Appropriates $215,000,000 from the State Pensions Fund to the Board of Trustees of the State Universities Retirement System pursuant to Section 8.12 of the State Finance Act.

• Appropriates $9,191,049 from the Education Assistance Fund to the State Universities Retirement System for deposit into the Community College Health Insurance Security Fund for the State's contributions.

• Total appropriations for ordinary and contingent expenses of the State Universities Retirement System equal $2,222,001,049 for fiscal year beginning July 1, 2024.

• Effective date is July 1, 2024.