New Jersey A5330 allows the Director of the Division of Pensions and Benefits to temporarily transfer funds if the health benefits fund falls below a.
New Jersey A5330 amends the School Employees' Health Benefits Program to allow the Director of the Division of Pensions and Benefits to temporarily transfer funds from the health benefits fund for qualified local education retirees and their dependents to the fund for active education employees and their dependents. This transfer is permitted if the available funds in the active education employees' fund fall below a level sufficient to cover 10 days of anticipated payments. The transferred amount must not exceed the amount necessary to cover 30 days of anticipated payments.
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