§ 20152 Retirement Fund Insurance Payments

• •The state sets aside money from a retirement fund to pay for insurance.
• •This money is always available, no matter the year or budget.
• •The board in charge can ask for this money whenever they need to pay for the insurance.

Imagine your school has a special savings account for field trips. The principal can take money from this account anytime to pay for the bus, even if it’s not in the yearly budget.

Just like the school’s savings account, the state has a retirement fund. The board can use money from this fund to pay for insurance whenever they need to, without waiting for a new budget year.