House Bill 2608
2017-2018
Ryan
3958
PSERS
SERS
Actuarial Reporting
Fiduciary Responsibility
Miscellaneous
Amends the Act of April 9, 1929 (P.L. 343, No. 1760), known as the Fiscal Code, creating the Unfunded Liability Solvency Reserve Fund. Deposits into this account can be appropriated by the General Assembly, transferred by law or deposited from the General Fund if the Secretary of the Budget declares a surplus for a fiscal year and that money isn't transferred to the Budget Stabilization Reserve Fund. The Unfunded Liability Solvency Reserve Fund will only be used to make an additional contribution to the SERS and PSERS Funds in excess of the actuarially required contribution for the fiscal year.