“Over the past eight years, policymakers and our employers have remained disciplined to restoring funding to employee pensions according to the levels established by Act 2010-120 and that work is yielding positive results,” explained SERS Chief Financial Officer and Acting Executive Director Anthony J. Faiola. “We have turned a corner as the employer rate is no longer rising and the funding status is climbing.”
According to a report presented to the PSERS Board, PSERS’ funded status increased to 60.7 percent-- from 55.5 percent-- based on the market value of assets and to 59.4 percent-- from 58.1 percent-- on an actuarial value of assets.
