New Jersey A3878 requires the Division of Pensions and Benefits to report on available funds in local government part of SHBP before transferring.
New Jersey A3878 mandates the Division of Pensions and Benefits to provide a report on available funds in the local government part of the State Health Benefits Program (SHBP) before transferring funds from the State part of SHBP. The bill also requires monthly reporting on certain assets in SHBP, including transfers, outstanding balances, repayments, and current fund balances. The amount transferred cannot exceed the amount necessary to cover 30 days of anticipated payments, including premiums, claims, and other charges.
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