This bill amends Titles 24 (Education), 71 (State Government), and 72 (Taxation and Fiscal Affairs) of the Pennsylvania Consolidated Statutes to introduce a supplemental annuity for eligible benefit recipients, commencing with the first monthly annuity payment after July 1, 2025. The new section 8348.8 in Title 24 and section 5708.9 in Title 71 outline the eligibility criteria, which include individuals receiving a superannuation, withdrawal, or disability annuity on the specified date, with certain restrictions on retirement dates and service classifications. The supplemental annuity will be calculated as a percentage of the monthly annuity payment on July 1, 2025, based on the recipient's most recent effective date of retirement.

Additionally, the bill establishes a Budget Stabilization Reserve Fund Interest Account under the new Chapter 19 in Title 72, which will manage the interest accrued from the Budget Stabilization Reserve Fund. This interest will be transferred annually to the General Fund to support the payment of the supplemental annuities. The bill also includes a repeal of section 1703-A of The Fiscal Code, which is deemed necessary to implement the new provisions effectively. The act is set to take effect immediately upon passage.

Statutes/Laws affected:
Printer's No. 943 (Jun 11, 2025): P.L.343, No.176