Chapter 216
AN ACT
HB 5040
Relating to financial administration of the Public Employees Retirement
System; limiting expenditures; and declaring an emergency.
Be It Enacted by the People of
the State of
SECTION 1. Notwithstanding any other law limiting
expenditures, the following amounts are established for the biennium beginning
July 1, 2007, as the maximum limits for payment of expenses from fees, moneys
or other revenues, including Miscellaneous Receipts, but excluding lottery
funds and federal funds, collected or received by the Public Employees
Retirement System, for the following purposes:
(1) Administrative and
operating
expenses $ 81,356,159
(2) Debt service $ 5,709,200
SECTION 2. For the biennium beginning July 1, 2007,
expenditures by the Public Employees Retirement System for refunds, retirement
benefits, deferred compensation and individual account program payments, health
insurance premiums, health insurance premium subsidies, third party
administrator costs for health and individual account programs
and Public Employee Benefit Equalization Fund payments are not limited.
SECTION 3. This 2007 Act being necessary for the
immediate preservation of the public peace, health and safety, an emergency is
declared to exist, and this 2007 Act takes effect July 1, 2007.
Approved by the Governor May 30, 2007
Filed in the office of Secretary of State May 31, 2007
Effective date July 1, 2007
__________