HARRISBURG, PA – Public School Employees’ Retirement System (PSERS) Executive Director Glen Grell issued the following statement today.
“I want to thank the General Assembly and Governor Wolf for continuing to support PSERS and our members through the passage and signing of a bipartisan budget agreement for the 2019-20 fiscal year.
This marks the fourth year in a row, Representatives, Senators and the Governor have fully funded PSERS’ actuarially required employer contribution rate. Providing this necessary funding rate keeps the Commonwealth and school employers on track to paying down the system’s existing pension debt. That makes a positive difference in the lives of nearly 500,000 active and retired school employees who depend on PSERS retirement benefits.”
About the Pennsylvania Public School Employees’ Retirement System
Founded in 1917, PSERS is the 15th largest state-sponsored defined benefit public pension fund in the nation. As of March 31, 2019, PSERS had net assets of approximately $57.2 billion and a membership of over 256,000 active school employees and over 233,000 retirees.