MS SB2004

Transfers $500,000,000 from the Capital Expense Fund to the Public Employees' Retirement System (PERS) Employers' Accumulation Account on July 1, 2026

Requires annual transfers of $50,000,000 from the Capital Expense Fund to the PERS Employers' Accumulation Account each July 1 from 2027 through 2036 (10 years)

Total investment in PERS stability equals $1 billion over the 11-year period ($500 million initial + $500 million in subsequent annual payments)

If the Capital Expense Fund lacks sufficient unobligated funds for annual transfers, the State General Fund must cover the shortfall to ensure the full $50 million is transferred

Takes effect July 1, 2026