Pennsylvania is currently experiencing a public pension funding crisis. The State Employees’ Retirement System (SERS) and the Public-School Employees’ Retirement Systems (PSERS) are the largest public pension systems in the state, but do not currently hold enough money to fully fund all of their members. 
 
Over the past 40 years, Pennsylvania has intermittently allowed for members of SERS and PSERS to retire early with no reduction in their retirement benefits. The Legislative Budget and Finance Committee last performed a study that analyzed the benefits and drawbacks of allowing early retirement for public pension holders in Pennsylvania in 2006. 
 
I believe it is time for another study to be performed. That is why I am introducing a resolution directing the Legislative Budget and Finance Committee to conduct a cost analysis study of early retirement for members of SERS and PSERS who are 55 years old or have 30 years of service. The study will fiscally and actuarially analyze the option of early retirement to determine if it should be established for state and public school employees.

Please join me in supporting this resolution.