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New pension measure 'could impact' PA, NJ bond ratings
Tougher GASB reporting will make asset/liability shortfalls look even worse.
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Since July 1, 2004, Pennsylvania Schools has not fully paid its ARC. Under Act 120 of 2010, the Pennsylvania School
Employees Retirement System (PSERS) is moving to fully fund the plan by gradually increasing the contribution rates each
year. Based on the funding provisions of Act 120, PSERS is not required to use a blended rate to discount liabilities and its
2010 funded ratio under the proposed GASB accounting standards is 57.7 percent.