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  • CPI: adjusts for changes in the cost of goods and services purchased by consumers
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State Retiree Benefits Trust Fund T10-540

funding levels adjusted for inflation (CPI)

  • Funding History
  • Proposals
Adjusted for inflation (CPI) NOT adjusted
FY25 Gov $39,478,574 $39,478,574
FY24 GAA $28,944,125 $29,200,000
FY23 $108,757,108 $103,264,498
FY22 $97,240,990 $88,629,773
FY21 $30,743,942 $26,148,238
FY20 $118,037,598 $98,146,393
FY19 $97,485,949 $79,796,852
FY18 $32,110,348 $25,750,000
FY17 $32,830,159 $25,750,000
FY16 $105,991,148 $81,614,704
FY15 $99,224,515 $75,900,000
FY14 $66,788,344 $50,725,584
FY13 $37,003,780 $27,673,691
FY12 $0 $0
FY11 $0 $0
FY10 $0 $0
FY09$0$0
FY08 $0 $0
FY07 $0 $0
FY06 $0 $0
FY05 $0 $0
FY04 $0 $0
FY03 $0 $0
FY02 $0 $0
FY01 $0 $0

comparisons adjusted for inflation (CPI)

  • See Changes in Funding
Between and
Funding for State Retiree Benefits Trust Fund
N/A

comparisons adjusted for inflation (CPI)

Notes

  • In FY20, the budget includes a transfer of $22.8 million from excess capital gains transferred into the Pension Reserves Trust and into the State Retiree Benefits Trust.
  • In FY19, the budget includes a transfer of $4.4 million from excess capital gains into the Pension Reserves Trust and into the State Retiree Benefits Trust.
  • From FY01-FY07, Group Insurance Premium and Plan Costs funded both active and retired state employee benefits. Starting in FY08, funding for health insurance for state retirees was partially funded through an operating transfer into the State Retiree Benefits Trust Fund. There was an additional reserve funding some costs in FY12, and starting in FY13, retiree costs were also funded by a "pre-budget" transfer into the trust fund of revenue from the tobacco Master Settlement Agreement. All of these are grouped together. Starting in FY15, instead of using the tobacco Master Settlement, the budget uses unexpended debt service appropriations to fund these costs, but notes that the settlement funds could be used if necessary.
Adjusted for inflation (CPI) NOT adjusted
FY24 Leg $28,944,125 $29,200,000
FY24 Sen $115,653,169 $116,675,580
FY24 SWM $115,653,169 $116,675,580
FY24 Hou $28,944,125 $29,200,000
FY24 HWM $28,944,125 $29,200,000
FY24 Gov $28,944,125 $29,200,000
FY23 GAA $108,757,108 $103,264,498
FY23 SWM $72,843,338 $69,164,498
FY23 Hou $72,843,338 $69,164,498
FY23 HWM $72,843,338 $69,164,498
FY23 Gov $72,843,338 $69,164,498
FY22 GAA $97,240,990 $88,629,773

Notes

  • In FY20, the budget includes a transfer of $22.8 million from excess capital gains transferred into the Pension Reserves Trust and into the State Retiree Benefits Trust.
  • In FY19, the budget includes a transfer of $4.4 million from excess capital gains into the Pension Reserves Trust and into the State Retiree Benefits Trust.
  • From FY01-FY07, Group Insurance Premium and Plan Costs funded both active and retired state employee benefits. Starting in FY08, funding for health insurance for state retirees was partially funded through an operating transfer into the State Retiree Benefits Trust Fund. There was an additional reserve funding some costs in FY12, and starting in FY13, retiree costs were also funded by a "pre-budget" transfer into the trust fund of revenue from the tobacco Master Settlement Agreement. All of these are grouped together. Starting in FY15, instead of using the tobacco Master Settlement, the budget uses unexpended debt service appropriations to fund these costs, but notes that the settlement funds could be used if necessary.
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