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2002 Session

Budget Amendments - SB30 (Conference Report)

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NGF Savings: VRS Active Rate Suspension (language only)

Item 3-1.01 #37c

Item 3-1.01 #37c

Transfers
Interfund Transfers

Language
Page 419, after line 24, insert:
"AA. Prior to June 20, 2003, the State Comptroller shall transfer from agency nongeneral fund accounts an amount estimated at $4,743,795 for the suspension of the active portion of the state employee group life contributions for fiscal year 2003.  Prior to June 20, 2004, the State Comptroller shall transfer from agency nongeneral fund accounts an amount estimated at $4,950,041 for the suspension of the active portion of the state employee group life contributions for fiscal year 2004. Appropriated funds from federal sources are exempt from this transfer."


Explanation
(This amendment captures savings from the suspension of the employer active employee contribution rate for the state group life insurance program.)