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_2025_Update.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. test
Deputy Director Mark Ryan made a presentation to the Pennsylvania School Boards Association (PSBA) regarding the impact of recently enacted pension legislation (Act 5 of 2017) on school district pension contributions.
The actuarial note analyzes a proposal to amend the Public School Employees' Retirement Code and the State Employees' Retirement Code to (1) require most new employees to select one of three new plan design options and (2) make certain actuarial funding changes. The plan design options include two hybrid plans consisting of defined benefit and defined contribution components. The third option is a stand-alone defined contribution plan.
On June 5, 2017 the IFO updated the actuarial note by clarifiying certain language in the summary of Senate Bill 1. A list of the changes is available here.
Deputy Director Mark Ryan made a presentation to the Rotary Club of Harrisburg regarding the unfunded liabilities in Pennsylvania's public pension systems. (4/11/2016)
This letter provides a statutorily required report analyzing the implementation of the shared-risk pension provisions introduced by Act 120 of 2010.