PRINTER'S NO. 122
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No.
7
Session of
2019
INTRODUCED BY FOLMER, BARTOLOTTA, LANGERHOLC, PHILLIPS-HILL,
MARTIN, HUTCHINSON, STEFANO, DiSANTO, J. WARD, GORDNER,
K. WARD, WHITE, VOGEL, REGAN, AUMENT, SCARNATI, ARGALL AND
LAUGHLIN, FEBRUARY 1, 2019
REFERRED TO FINANCE, FEBRUARY 1, 2019
AN ACT
Amending Titles 24 (Education), 71 (State Government) and 72
(Taxation and Fiscal Affairs) of the Pennsylvania
Consolidated Statutes, in retirement for school employees as
to membership, contributions and benefits, further providing
for actuarial cost method; in administration and
miscellaneous provisions, further providing for
administrative duties of board; in retirement for State
employees and officers as to contributions, further providing
for actuarial cost method; in administration, funds,
accounts, general provisions, further providing for
administrative duties of board; providing for taxpayer
protection and establishing the Taxpayer Protection Fund and
the PSERS/SERS Unfunded Accrued Liability Fund; and repealing
certain provisions of The Fiscal Code.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 8328(e)(1) of Title 24 of the
Pennsylvania Consolidated Statutes is amended to read:
ยง 8328. Actuarial cost method.
* * *
(e) Experience adjustment factor.--
(1) For each fiscal year after the establishment of the
accrued liability contribution rate for the fiscal year
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