To recompense the public employees' retirement association (PERA) for the cancellation of a previously scheduled July 1, 2020, direct distribution of $225 million, House Bill 22-1029 required an additional direct distribution to PERA. However, the additional direct distribution did not fully recompense PERA for the cancellation of the previously scheduled direct distribution. To fully recompense PERA, the bill requires the state treasurer to issue a warrant to PERA in an amount equal to $35,050,000. The bill requires the warrant to consist of the balance of the PERA payment cash fund, and any remaining amount must be paid from the general fund.
