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 details potential savings from shared-gain provisions at the two state pension systems beginning in FY 2026-27 (SERS) and FY 2027-28 (PSERS). Using data from the most recent actuarial valuations and current market conditions, the brief estimates that SERS members will save $15 million per annum and PSERS members will save $41 million per annum for three fiscal years, and that savings will grow as salaries grow. Examples for employees in different membership classes and wage levels are also provided.