Pension, PSERS background basics

(With information from the Public School Employees’ Retirement System (PSERS) 2015 and 2016 Comprehensive Annual Financial Report (CAFR) and other materials from PSERS, and from the Public Employee Retirement Commission) The Pennsylvania Public School Employees Retirement Act establishing the Public School Employees' Retirement System (PSERS) became law in 1917 with the purpose of providing retirement… More

Commentary: Pennsylvania pension blues (part one)

Pennsylvania, like many states, has a guaranteed benefit pension system for public employees, including teachers, and it's in trouble… More

PA school districts brace for higher pension costs

Pennsylvania's school districts have gotten an early lump of coal this holiday season from Harrisburg: word that teacher pension costs, which have taken ever larger bites out of budgets in recent years, will rise faster than expected in 2017-18… More

Pennsylvania’s pension debt continues to mount; critics alarmed

Time, as the saying goes, is money. Nowhere is that truer than in Pennsylvania’s mounting pension debt… More

News Release: School directors discuss pension reform, Basic Education Funding formula and on-time 2016-17 state budget at State Capitol

NEWS RELEASE Dozens of school directors from across Pennsylvania gathered at the State Capitol on April 4 to meet with legislators and discuss several issues of concern, including the following: The ongoing need for pension reform Adoption of the Basic Education Funding formula PlanCon reimbursement funding Reimbursements to districts for interest payments due as the… More

PSBA calls latest pension reform a ‘significant move forward’

PSBA believes the most recent pension reform outlined in Senate Bill 1071 is a significant move forward in protecting school districts and taxpayers from the fiscal stress of an unpredictable and costly pension system. Today the Public Employee Retirement Commission reviewed Senate Bill 1071 and provided its analysis in a public meeting… More