Section 82 Supplemental Pension Transfer

Notwithstanding any general or special law to the contrary, upon determination by the secretary of administration and finance that revenues for fiscal year 2023, estimated pursuant to section 5B of chapter 29 of the General Laws, are consistent with the estimates used in the general appropriation act for fiscal year 2023, and that no allotment reductions are needed pursuant to sections 9B and 9C of said chapter 29, the comptroller, in consultation with the secretary, shall transfer up to $250,000,000 into the Commonwealth's Pension Liability Fund established in subsection (e) of subdivision (8) of section 22 of chapter 32 of the General Laws prior to the certification and disposition of the consolidated net surplus for fiscal year 2023 pursuant to section 5C of said chapter 29.

This section requires a transfer of up to $250 million to the Commonwealth's Pension Liability Fund from any consolidated net surplus in fiscal year 2023, before the remaining funds are deposited into the Stabilization Fund.