PRINTER'S NO. 751
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE RESOLUTION
No.
130
Session of
2019
INTRODUCED BY BLAKE, BROWNE, FONTANA, LEACH, DINNIMAN,
BARTOLOTTA, SCHWANK AND HUGHES, MAY 8, 2019
INTRODUCED AND ADOPTED, MAY 8, 2019
A RESOLUTION
Commemorating the 100th anniversary of the Pennsylvania Public
School Employees' Retirement System on July 1, 2019.
WHEREAS, The Pennsylvania Public School Employees' Retirement
System (PSERS) was established July 18, 1917, and began
operations in 1919, with an initial membership of 37,503; and
WHEREAS, PSERS currently provides for retirement benefits to
more than half a million active and retired public school
employees; and
WHEREAS, PSERS is the 15th largest state-sponsored public
pension fund in the nation; and
WHEREAS, PSERS assets have grown from $6 billion in 1982 to
approximately $56.6 billion as of September 30, 2018; and
WHEREAS, In fiscal year 2018, PSERS distributed $6.6 billion
in annual pension funds to retirees; and
WHEREAS, From the distribution in 2018, $6 billion went
directly to residents of this Commonwealth; and
WHEREAS, Distributions made directly to Pennsylvanians
stimulate economic activity throughout this Commonwealth,
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equating to an economic impact of over $12.7 billion annually;
and
WHEREAS, PSERS investments in the Commonwealth support over
65,000 jobs that paid $3.4 billion in wages and salaries in
2018, and
WHEREAS, As an institution, PSERS values reliability,
dependability and dedication and works diligently so members can
rely on PSERS to provide the benefits and services that they
have earned; and
WHEREAS, PSERS provides a steady monthly income funded by
employees making mandatory contributions into the system
throughout their careers; therefore be it
RESOLVED, That the Senate commemorate the 100th anniversary
of the Pennsylvania School Employees' Retirement System on July
1, 2019.
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