(a) In addition to the appropriation required pursuant to Section 20825, the Legislature hereby appropriates two hundred forty-three million dollars ($243,000,000) from the General Fund, for the purposes described in subclause (IV) of clause (ii) of subparagraph (B) of paragraph (1) of subdivision (c) of Section 20 of Article XVI of the California Constitution, to supplement the state’s appropriation to the Public Employees’ Retirement Fund. The appropriation made by this section represents a portion of the amount identified in paragraph (3) of subdivision (d) of Section 35.50 of the Budget Act of 2020. The appropriation shall be consistent with the requirements of this section and the direction of the Department of Finance. The Department of Finance shall provide to the Controller a schedule establishing the timing of specific transfers to be used as described in subdivision (b).
(b) The appropriation made in subdivision (a) shall be apportioned to the patrol member category and shall be applied to the state patrol member category’s unfunded liabilities that are in excess of base amounts for the 2020–21 fiscal year.
(Added by Stats. 2020, Ch. 16, Sec. 7. (AB 84) Effective June 29, 2020.)