Bill > HB1767

This bill establishes a new supplemental annuity program for certain retired public employees in Pennsylvania, commencing in July 2025. The supplemental annuity will provide additional monthly payments to eligible benefit recipients based on their retirement date, with percentage increases ranging from 15% to 24.5% of their monthly annuity payment on July 1, 2025. To qualify, recipients must be receiving a superannuation, withdrawal, or disability annuity on July 1, 2025, have retired prior to July 2, 2001, and not have certain types of credited service. The bill applies to two retirement systems: the Public School Employees' Retirement System and the State Employees' Retirement System. Additionally, the bill establishes provisions for the Budget Stabilization Reserve Fund, creating a new interest account within the fund. Starting July 1, 2025, the interest accrued in this account will be transferred to the General Fund and used to help pay for these supplemental annuities. The bill also specifies that the Budget Stabilization Reserve Fund should only be used for emergencies or economic downturns that cannot be addressed through the normal budget process, and includes a provision for a $100 million transfer to the General Fund by November 30, 2020.

Government Affairs

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1767