|Posted:||August 3, 2021 04:54 PM|
|From:||Senator Katie J. Muth|
|To:||All Senate members|
|Subject:||Appropriations Hearings for our Public Pension Systems|
The Commonwealth’s required annual contribution to our 2 large public pension systems, State Employees' Retirement System (SERS) and Public School Employees' Retirement System (PSERS), is substantial and represents a large component and cost driver of the annual state budget. As such, the General Assembly should be given an opportunity to exercise proper due diligence through the annual agency budget hearing process.
SERS and PSERS have not consistently been subjected to annual budget hearings before the Appropriations standing committee in both legislative chambers. It appears that neither SERS nor PSERS have testified before the Senate Appropriations Committee since Monday, March 23, 2015 or before the House Appropriations Committee since March 5, 2019