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Treasurer seeks $3.8 million one‑time to cover actuarial pension shortfall; committee notes reserve impact
Summary
Committee staff described a proposal to appropriate $3,800,000 in FY‑25 to support the actuarially determined contribution for the state teachers' pension, with carryforward into FY‑26; committee members noted the appropriation would raise reserve requirements by roughly $190,000 and slightly reduce the one‑time balance in the current sheet.
Committee staff described a late proposal to appropriate $3,800,000 in one‑time funds in FY‑25 to enable the treasurer's office to meet the actuarially determined contribution for the state teachers' pension and to provide carryforward capacity into FY‑26.
Staff said the treasurer's office had flagged that some revenues relied upon to meet the actuarial requirement were running lighter than…
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