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School Retirement Funding: The State in Crisis
March 2009, half-day webcast recording/session handout
In one short year, the annual investment return for the PA School Employees Retirement System dramatically decreased from more than 20% to (2.82)%. For the current fiscal year, the system’s return has plunged to (25%). The total employer contribution rate for the 2012-2013 fiscal year currently looms at a horrific 16.40%, but that rate does not take into consideration another negative market rate of return for the current fiscal year. PASBO believes that the 2012-2013 “spike” is likely to be more than 30% and stay at that level for several fiscal years. If the stock market does not rebound, the rate escalation could be worse. A very real crisis has developed that neither the State nor the LEAs can manage without intervention. Join this PASBO webcast for a discussion on what PSERS can do within the limits of the law and what the General Assembly, Administration and schools can and must do to counteract this pending crisis.
PASBO Members $50.00 / Non-Members $75.00

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