Pennsylvania House Bill HB2408

Pennsylvania 2025-2026 Regular Session

• Introduced: 3/24/26
• Refer: 3/24/26
• Refer: 4/15/26
• Report Pass: 4/27/26
• Engrossed: 4/27/26
• Refer: 5/1/26

Caption

Making appropriations from the State Employees' Retirement Fund and from the SERS Defined Contribution Fund to provide for expenses of the State Employees' Retirement Board for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2026.

Impact

The passage of HB2408 is significant as it outlines the necessary funding required for the State Employees' Retirement Board to fulfill its obligations. By ensuring appropriations are secured, the bill aims to facilitate the effective management of retirement funds for state employees, thus maintaining trust in the pension system. This legislative action serves to reassure stakeholders that funds will be available for administrative costs and outstanding liabilities from the previous fiscal year, promoting stability in the management of state employee pensions.

Summary

House Bill 2408 concerns making appropriations from the State Employees' Retirement Fund and the SERS Defined Contribution Fund to cover expenses of the State Employees' Retirement Board. The appropriations are specified for the fiscal year running from July 1, 2026, to June 30, 2027. The total amount requested for the State Employees' Retirement Fund is $43,176,000, which is intended to cover salaries, wages, travel expenses, and other necessary expenses to ensure the proper functioning of the board. Additionally, there is a provision for a further $2,879,000 from the SERS Defined Contribution Fund for similar expenses related to managing the Defined Contribution Plan.

Contention

While the bill primarily serves a logistical purpose concerning budgetary allocations, discussions around it may center on the broader implications of state financial management and the sustainability of retirement funds. Stakeholders—including employee associations and state finance experts—might express varying opinions on the adequacy of the appropriations and the long-term viability of the funds. Notable points of concern may relate to how these appropriations could affect overall state funding priorities and the handling of public pensions amidst changing economic conditions.