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Pennsylvania House of Representatives
02/05/2025 02:40 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20250&chamber=H&cosponId=45337
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House of Representatives
Session of 2025 - 2026 Regular Session

MEMORANDUM

Posted: January 27, 2025 11:36 AM
From: Representative Steven R. Malagari and Rep. Daniel J. Deasy
To: All House members
Subject: Providing a COLA to SERS and PSERS (formerly HB1416)
 
All retirees deserve to live with dignity and financial security. Unfortunately, many former state employees and public school employees in Pennsylvania are struggling. Our state’s two public pension systems—the State Employees’ Retirement System (SERS) and the Public School Employees’ Retirement System (PSERS)—have been providing payments to retirees for decades, but neither system has seen a cost-of-living adjustment (COLA) in over 20 years.

These stagnant payments are insufficient for our retirees, especially given the rising costs of goods and services. In Pennsylvania, retired state employees and public school employees earned their pensions through years of dedicated service. It is past time that our public pension systems provided them with the retirement security they deserve.

That is why I am introducing a bill to provide a COLA to both SERS and PSERS. This bill will provide a COLA for the upcoming fiscal year while also establishing a recurring COLA so that pensions keep up with the rate of inflation. Please join me in supporting this important legislation. Help to ensure former state employees and public school employees can live comfortably in their retirement. Thank you for your consideration.

Co-sponsors of former HB1416: DEASY, MADDEN, HOHENSTEIN, VENKAT, McNEILL, SANCHEZ, SIEGEL, HILL-EVANS, FREEMAN, HOWARD, DELLOSO, HANBIDGE, WARREN, BENHAM, KINKEAD, OTTEN, CERRATO, SCHWEYER, ISAACSON, NEILSON, ZABEL, BRIGGS, CONKLIN, CIRESI, GREEN, R. MACKENZIE, FLEMING, TAKAC, D. WILLIAMS, INNAMORATO AND BOROWSKI.



Introduced as HB411


Memo Updated: January 29, 2025 11:05 AM