This amendment captures $2.8 million the second year from the general fund from the application of lower teacher retirement fund rates following the one-time transfer of $42.9 million in Literary Fund proceeds to the outstanding ten-year deferred contribution balance of $356.1 million. The remaining balance of $313.2 million is then reamortized over the remaining six-year amortization period to produce the savings amount. The VRS teacher rate was recalculated based on the lowered deferred contribution amount and reflects a change from 14.50 percent to 14.06 percent for FY 2016.