The State Employees’ Retirement System of Pennsylvania (SERS) and the Public School Employees’ Retirement System are required to perform an annual stress test. The test results are required to be submitted to the Governor, the General Assembly, and the Independent Fiscal Office by July first of each year.  The Independent Fiscal Office then must produce a report summarizing the results of the stress test by September first of each year.
 
My legislation would alter the deadlines to better align with SERS and PSERS fiscal year. The test would be required to be completed and submitted by October first of each year, and the Independent Fiscal Office summary would be due by December first of each year.
 
This change is being offered at the request of SERS and PSERS.  Support this simple change to help SERS and PSERS operate more efficiently.
 
 

Statutes/Laws affected:
Printer's No. 1498 (Apr 28, 2025): 24-8510(a)