HB 3718 appropriates $1,626,692,000 for the state contribution to SURS for FY 2020. Of this amount, $1,426,692,000 comes from the General Revenue Fund and $200,000,000 comes from the State Pensions Fund. The FY 2020 certified state contribution to SURS is $1,854,692,000. HB 3718 appropriates approximately $228,000,000 less than the certified state contribution to SURS for FY 2020.
HB 3718 appropriates $4,431,113 from the Education Assistance Fund to SURS for deposit into the Community College Health Insurance Security Fund for the state contribution to the College Insurance Program for FY 2020. The College Insurance Program (CIP) provides healthcare for community college retirees. The FY 2020 certified state contribution to the College Insurance Program (CIP) is $4,431,113. HB 3718 appropriates an amount that is equal to the certified contribution to CIP for FY 2020.
HB 3718 takes effect on July 1, 2019.
HB 3718 is identical to SB 2165 of the 101st General Assembly.