The Health and Life Benefit Administration Cash Fund is created. The fund shall consist of payments made by individuals eligible for program benefits, transfers from the State Employees Insurance Fund for administrative and operation expenses as authorized by the Legislature, and interest earnings as authorized by the Legislature. The fund shall be used by the personnel division of the Department of Administrative Services to administer the provisions of the federal Public Health Service Act and for the administration of the section 125 plan. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.