(a) (1) In addition to the appropriation required pursuant to Section 20814, the Legislature hereby appropriates two billion five hundred million dollars ($2,500,000,000) from the General Fund for fiscal year 2018–19 to be transferred to the Public Employees’ Retirement Fund, consistent with the requirements of this section and at the direction of the Department of Finance. The Department of Finance shall provide the Controller a schedule establishing the timing of specific transfers to be used for these purposes.

(2) The supplemental payment to the Public Employees’ Retirement Fund described in paragraph (1) shall be apportioned to the following state employee member categories, as directed by the Department of Finance, not to exceed the following amounts:

(A) Eight hundred forty-eight million fifty-seven thousand dollars ($848,057,000) to the state miscellaneous member category.

(B) Eighty-two million nine hundred thirty thousand dollars ($82,930,000) to the state industrial member category.

(C) One hundred eighty-four million four hundred twenty-seven thousand dollars ($184,427,000) to the state safety member category.

(D) One billion three hundred eighty-four million five hundred eighty-six thousand dollars ($1,384,586,000) to the state peace officer/firefighter member category.

(b) (1) In addition to the appropriation required pursuant to Section 20814, the Legislature hereby appropriates two hundred sixty-five million dollars ($265,000,000) in General Fund moneys for fiscal year 2020–21, two hundred million dollars ($200,000,000) in General Fund moneys for fiscal year 2021–22, and thirty-five million dollars ($35,000,000) in General Fund moneys for fiscal year 2022–23 to be transferred to the Public Employees’ Retirement Fund, consistent with the requirements of this section and at the direction of the Department of Finance. The Department of Finance shall provide the Controller a schedule establishing the timing of specific transfers to be used for these purposes.

(2) Two hundred forty-three million dollars ($243,000,000) of supplemental payments to the Public Employees’ Retirement Fund for the 2020–21 fiscal year described in paragraph (1) shall be apportioned to the state patrol member category, as directed by the Department of Finance.

(3) Twenty-two million dollars ($22,000,000) of the supplemental payment to the Public Employees’ Retirement Fund for the 2020–21 fiscal year described in paragraph (1) shall be apportioned among the state employee member categories, as directed by the Department of Finance, in proportion to the amount of estimated General Fund moneys appropriated to make required contributions to each state employee member category for the 2020–21 fiscal year.

(4) The supplemental payments to the Public Employees’ Retirement Fund for the 2021–22 and 2022–23 fiscal years described in paragraph (1) shall be apportioned among the state employee member categories, as directed by the Department of Finance, in proportion to the amount of estimated General Fund moneys appropriated to make required contributions to each state employee member category for the fiscal year that the supplemental payment is transferred.

(c) The supplemental payments to the Public Employees’ Retirement Fund described in subdivisions (a) and (b) shall be applied to the unfunded state liabilities for the state employee member categories described in paragraph (2) of subdivision (a) and paragraphs (2), (3), and (4) of subdivision (b).

(Amended by Stats. 2019, Ch. 859, Sec. 17. (AB 118) Effective October 13, 2019.)