§ 1701-N. Public School Employees' Retirement System recertification to Secretary of the Bu...
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 72 P.S. Taxation and Fiscal AffairsEffective: July 1, 2010
Effective: July 1, 2010
72 P.S. § 1701-N
§ 1701-N. Public School Employees' Retirement System recertification to Secretary of the Budget
Notwithstanding any other provisions of law to the contrary, the Public School Employees' Retirement Board shall, effective for the fiscal year beginning July 1, 2010, recertify to the Secretary of the Budget and the employers, as defined in 24 Pa.C.S. § 8102 (relating to definitions), within 20 days of the effective date of this section, the employer contribution rate expressed as a percentage of members' payroll necessary for the funding of prospective annuities for active members and the annuities of annuitants to be 5.00%, plus the premium assistance contribution rate of .64% in accordance with 24 Pa.C.S. § 8328(f) (relating to actuarial cost method), and also recertify the rates, factors and amounts set forth in 24 Pa.C.S. § 8502(k) (relating to administrative duties of board) to reflect the impact of the recertified rates provided in this section. This recertification shall supersede the prior certification for the fiscal year beginning July 1, 2010, for all purposes.
Credits
1929, April 9, P.L. 343, No. 176, art. XVII-N, § 1701-N, added 2010, July 6, P.L. 279, No. 46, § 3, retroactive effective July 1, 2010.
72 P.S. § 1701-N, PA ST 72 P.S. § 1701-N
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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