Act 100 of 2016 transferred the responsibility to provide actuarial notes for legislation that proposes changes to public employee pension or pension plans to the Independent Fiscal Office (IFO). The IFO’s current Pension Analysis Policies is available here: http://www.ifo.state.pa.us//Resources/Documents/IFO_Pension_Analysis_Policy_2026.pdf
All actuarial notes issued by the IFO are posted on this website and available in the “Actuarial Notes” link below. The IFO also publishes statutory and special reports on pension issues in the Commonwealth available in the “Special Reports” link.
The IFO published a new research brief that provides a summary of investment performance and funded status for the two state pension systems. The brief shows that SERS and PSERS have out-performed their investment return assumptions over 3-, 5- and 10-year periods and increased their respective funded status to nearly 70% (SERS) and 67% (PSERS). The document also provides an update on active membership by pension plan type following the enactment of Act 5 of 2017.