(a) The state employees cafeteria plan trust fund is in the state treasury.
(b) The board of trustees shall administer the fund.
(c) The following shall be credited to the fund:
(1) salary reduction payments for benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) appropriations by the state for the administration of a cafeteria plan.
(d) The trust fund is available without fiscal year limitation:
(1) for all payments for any benefits included in a cafeteria plan other than group coverage plans under the group benefits program; and
(2) for payment of expenses of administering a cafeteria plan.
(e) The board of trustees may establish accounts for money in the fund as the board considers necessary, including accounts for the administration of a cafeteria plan. The board of trustees may transfer assets from one account to another:
(1) to pay benefits if:
(A) the transfer is necessary for financial management purposes; and
(B) adequate arrangements are made to reimburse the account from which the transfer was made; and
(2) to pay administrative expenses.