ASSEMBLY APPROPRIATIONS COMMITTEE
STATEMENT TO
ASSEMBLY, No. 5039
STATE OF NEW JERSEY
DATED: DECEMBER 16, 2024
The Assembly Appropriations Committee reports favorably
Assembly Bill No. 5039.
This bill would make amendments to provisions of law adopted by
P.L.2024, c.86, which permits the Director of the Division of Pension
and Benefits to initiate a temporary transfer of funds under certain
circumstances.
This bill would require the Division of Pensions and Benefits to
report to the State Health Benefits Commission (SHBC) on the claims
payable, available fund balance, and anticipated premiums for the
local parts of the State Health Benefits Program (SHBP) prior to
transferring funds from the State part of SHBP to such local parts.
Beginning 30 days after the effective date of the bill, the division
would also be required to report to the SHBC, on a monthly basis, the
funds available in both the State and local parts of SHBP, including
cash balances, claims costs incurred, and premiums collected.
FISCAL IMPACT:
This bill is not certified as requiring a fiscal note.