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Budget Summary FY2018

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Outside Section 27
Data Current as of:  7/20/2017

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Pension Transfer Schedule

SECTION 27.   Subdivision (1) of section 22C of said chapter 32 is hereby amended by striking out the third paragraph, as so appearing, and inserting in place thereof the following paragraph:-

Notwithstanding any general or special law to the contrary, appropriations or transfers made to the Commonwealth's Pension Liability Fund in fiscal years 2018 to 2020, inclusive, shall be made in accordance with the following funding schedule: $2,394,497,926 in fiscal year 2018, $2,608,452,563 in fiscal year 2019 and $2,841,524,605 in fiscal year 2020. Notwithstanding any provision of this subdivision to the contrary, any adjustments to these amounts shall be limited to increases in the schedule amounts for each of the specified years.