Pennsylvania Pension Funds Could Run Dry In As Little As 10 Years

Without higher contributions from workers and taxpayers, Pennsylvania’s public sector pension plans may not be able to pay for their promises.

And if investment returns fail to live up to expectations, the two pension funds could run dry before the end of the next decade.

Those are the startling conclusions drawn by a pair of researchers at the Mercatus Center, an economic think tank based at George Mason University, which examined Pennsylvania’s Public School Employees Retirement System and the State Employees Retirement System.

The center says PSERS has a 31 percent chance of making it to 2030 with sufficient funding to pay for all the retirement benefits promised to current and former workers, while SERS has only a 16 percent chance of making it that long.

Read more:

http://www.dailylocal.com/general-news/20150419/pennsylvania-pension-funds-could-run-dry-in-as-little-as-10-years

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