period after employment, regardless of the manner provided. The
term does not include any termination benefit or termination
payment for sick leave.
"Pension." Retirement income and, if provided through a
pension plan, a postemployment benefit other than retirement
income, including, but not limited to, a death benefit, life
insurance and a disability benefit. The term does not include a
postemployment health care benefit or termination benefit.
Section 3. Duties of school districts.
(a) Calculation of unfunded pension and other postemployment
benefit obligations.--Not later than September 30 each year, the
governing body of a school district shall calculate the amount
of unfunded pension and other postemployment benefit obligations
per $100,000 of assessed residential property within the school
district.
(b) Publication of annual notice.--The results of the
calculation under subsection (a) shall be published as follows:
(1) On the publicly accessible Internet website of the
school district as a separate item from other information on
the website.
(2) As a footnote in the financial disclosures of the
annual audited report of the school district.
(3) In the notice of taxes required by section 6 of the
act of May 25, 1945 (P.L.1050, No.394), known as the Local
Tax Collection Law.
Section 4. Property disclosure statement.
A seller who intends to transfer an interest in real property
shall disclose the results of the calculation under section 3(a)
as an item on the property disclosure form required by 68
Pa.C.S. § 7304 (relating to disclosure form).
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