Act 100 of 2016 transferred the responsibility to provide actuarial notes for legislation that proposes changes to public employee pension or pension plans to the Independent Fiscal Office (IFO). The IFO’s current Pension Analysis Policies is available here: http://www.ifo.state.pa.us//Resources/Documents/IFO_Pension_Analysis_Policy_2025_Update.pdf
All actuarial notes issued by the IFO are posted on this website and available in the “Actuarial Notes” link below. The IFO also publishes statutory and special reports on pension issues in the Commonwealth available in the “Special Reports” link. test
IFO Releases
Actuarial Note for Senate Bill 1; A01354 and A01558
June 03, 2017 | Pension Analysis
The actuarial note analyzes a proposal to amend the Public School Employees' Retirement Code and the State Employees' Retirement Code to (1) require most new employees to select one of three new plan design options and (2) make certain actuarial funding changes. The plan design options include two hybrid plans consisting of defined benefit and defined contribution components. The third option is a stand-alone defined contribution plan.
On June 5, 2017 the IFO updated the actuarial note by clarifiying certain language in the summary of Senate Bill 1. A list of the changes is available here.
Actuarial Note for Amendment A10803 to Senate Bill 1071, Printer's Number 1913
October 24, 2016 | Pension Analysis
Pennsylvania Public Pensions: Background on the Unfunded Liabilities
April 11, 2016 | Pension Analysis
Deputy Director Mark Ryan made a presentation to the Rotary Club of Harrisburg regarding the unfunded liabilities in Pennsylvania's public pension systems. (4/11/2016)
Shared-Risk Pension Analysis
December 18, 2015 | Pension Analysis
This letter provides a statutorily required report analyzing the implementation of the shared-risk pension provisions introduced by Act 120 of 2010.