8 July 2012 0 Comments

Liberty Index Appropriation Acts 2012: Appropriation Act 1 of 2012 – Funding Pennsylvania State Employees Pension System Administrative Operations

The Pennsylvania State Employees Retirement Systems (SERS) is a multimulti billion dollar taxpayer funded pension plan. To operate and manage the pension system costs the taxpayers $23, 660,000 over and above the pensions themselves. This means there is a huge and very well, taxpayer financed bureaucracy vested in maintaining and even expanding the pension system. The PSERS unionized, government bureaucracy has no incentive to cut costs and, in fact, has electoral clout as well.

The good news is that this year’s appropriation – Fiscal Year 2012-2012- is $3,660,000 less than last year! Unexpected and unusual good news from Harrisburg. I think Budget Secretary Zogby may be entitled to some credit but let us reserve judgement  until we examine the other  Appropriation Acts

Appropriation Act 1 June 13 SB 1472 State Employees’ Retirement Board – administrative expenses, etc.    

Appropriation Act 1 House Fiscal Note   Appropriation Act 1 makes a[ decreased] appropriation from the State Employees’ Retirement Fund to provide for the expenses incurred by the State Employees’ Retirement Board for the administration of the system for the fiscal year July 1, 2012, to June 30, 2013, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2012.

State Employees’ Retirement Fund

Costs/(Savings) FY 2011/12 FY 2012/13 Inc/(Dec)
$27,320,000 $23,660,000 ($3,660,000)

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