Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2010

Governor's Budget Recommendation FY 2010

Outside Section 11

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Pension Funding Triennial Schedule

SECTION 11.   Subdivision (1) of section 22C of chapter 32 of the General Laws is hereby amended by striking out the last paragraph, as appearing in the 2006 Official Edition, 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 2009 to 2011, inclusive, shall be made in accordance with the following funding schedule: $1,314,396,000 in fiscal year 2009, $1,376,619,000 in fiscal year 2010, and $1,441,811 in fiscal year 2011.

This section codifies a schedule for transfers in fiscal years 2009, 2010 and 2011, to fund the state pension system's unfunded liability.

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