HB 1304 — An Act amending Titles 24 (Education) and 71 (State Government) of the Pennsylvania Consolidated Statutes, in administration and miscellaneous provisions, further providing for stress test of system; and, in administration, funds, accounts and general provisions, further providing for stress test of system.

PRINTER'S NO.   1498

                     THE GENERAL ASSEMBLY OF PENNSYLVANIA



                         HOUSE BILL
                         No. 1304
                                               Session of
                                                 2025

     INTRODUCED BY CONKLIN, PIELLI, SANCHEZ, KHAN, GIRAL, HILL-EVANS,
        HARKINS, HADDOCK, MERSKI AND GREEN, APRIL 28, 2025

     REFERRED TO COMMITTEE ON STATE GOVERNMENT, APRIL 28, 2025


                                    AN ACT
 1   Amending Titles 24 (Education) and 71 (State Government) of the
 2      Pennsylvania Consolidated Statutes, in administration and
 3      miscellaneous provisions, further providing for stress test
 4      of system; and, in administration, funds, accounts and
 5      general provisions, further providing for stress test of
 6      system.
 7      The General Assembly of the Commonwealth of Pennsylvania
 8   hereby enacts as follows:
 9      Section 1.    Section 8510(a) and (b) of Title 24 of the
10   Pennsylvania Consolidated Statutes are amended to read:
11   § 8510.   Stress test of system.
12      (a)    General rule.--The board shall conduct an annual stress
13   test of the system and submit the results of the stress test to
14   the Governor, the General Assembly and the Independent Fiscal
15   Office no later than [January] April 1 of each year. The stress
16   test shall include a scenario analysis, simulation analysis and
17   sensitivity analysis. The board shall disclose in the report of
18   the stress test results which industry standards were used and
19   whether any changes to industry standards have been made.
20      (b)    Report by Independent Fiscal Office.--No later than
 1   [March] June 1 of each year, the Independent Fiscal Office shall
 2   produce a report summarizing the results of the stress test,
 3   including a calculation of the ratio of projected employer
 4   pension contributions to projected State revenues under a
 5   scenario analysis.
 6      * * *
 7      Section 2.    Section 5909(a) and (b) of Title 71 are amended
 8   to read:
 9   § 5909.    Stress test of system.
10      (a)     General rule.--The board shall conduct an annual stress
11   test of the system and submit the results of the stress test to
12   the Governor, the General Assembly and the Independent Fiscal
13   Office no later than [July 1] October 1 of each year. The stress
14   test shall include a scenario analysis, simulation analysis and
15   sensitivity analysis. The board shall disclose in the report of
16   the stress test results which industry standards were used and
17   whether any changes to industry standards have been made.
18      (b)     Report by Independent Fiscal Office.--No later than
19   [September 1] December 1 of each year, the Independent Fiscal
20   Office shall produce a report summarizing the results of the
21   stress test, including a calculation of the ratio of projected
22   employer pension contributions to projected State revenues under
23   a scenario analysis.
24      * * *
25      Section 3.    This act shall take effect in 60 days.




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