Search
 

Pa. Senate Dems: Surplus should stay in pensions

A potential $140 million surplus in state reimbursements for Pennsylvania's school district pension costs should be plowed back into the pension system to help cover the mushrooming taxpayer share of the costs, Democratic leaders in the Pennsylvania Senate said Monday.

By Peter Jackson | Updated on April 15, 2013

HARRISBURG, Pa. (AP) — A potential $140 million surplus in state reimbursements for Pennsylvania’s school district pension costs should be plowed back into the pension system to help cover the mushrooming taxpayer share of the costs, Democratic leaders in the Pennsylvania Senate said Monday.

The Public School Employees’ Retirement System has reported that shrinking school-district payrolls left $69 million in state reimbursement funds unspent in the year that ended June 30. Officials say the trend appears to be continuing this year and that the surplus could double by the end of the current fiscal year.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.