PSERS Recertification Triggers Contribution Increase | Chief Investment Officer
Thousands of Pennsylvania teachers will have to pay more in contributions starting in July. Thousands of Pennsylvania teachers will have to pay more in contribution rates beginning in July after the board of the $62 billion Pennsylvania Public School Employees’ Retirement System (PSERS) voted Monday to recertify the employee contribution rates it originally approved at its December meeting. At that December meeting, the board’s general investment consultant and another firm said the retirement system’s nine-year performance figure was 6.38%, which was just above the 6.36% threshold that...
Source: ai-cio.com