Latest News

You are welcome to sign up to have SERS' press releases and board meeting agendas automatically emailed to you. If you are a member of the media working on a story, email your questions to phile@pa.gov or call our communications office at 717.787.9657. It's helpful to let us know if you're working on a deadline and which media outlet you represent.

7/6/2020
Penn SERS 2019 Financial Reports Available
– The Pennsylvania State Employees’ Retirement System today announced its 2019 Comprehensive Annual Financial Report (CAFR) for the calendar year ended Dec. 31, 2019.

The purpose of this report is to provide a clear accounting of SERS’ operations and financial position with details about the traditional Defined Benefit Plan and the new Defined Contribution Plan that opened on Jan. 1, 2019.

6/26/2020
PA SERS Names Seth A. Kelly as Chief Investment Officer
Appointee is Former CIO for Missouri State Employees Retirement System

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, named Seth A. Kelly, CFA, as its new Chief Investment Officer.

6/10/2020
Penn SERS Stress Testing Praised as “Leading Example”
SERS Board Receives Year-End Financial Reports, First Quarter Investment Performance Reports, Continues Working Through Pension Review Commission Recommendations

The board of the Pennsylvania State Employees’ Retirement System, meeting here today, learned that its recently expanded stress testing was praised as a "leading example," received year-end financial reports, a report on first quarter investment performance, and directed staff to act on several pension review commission recommendations.

06/10/20
ALERT: Be Wary of E-mail Offers to Review Your SERS Retirement Plans!

It’s happening again. Unfortunately, a number of online and e-mail opportunists are trying to take advantage of people’s anxieties during the current Coronavirus crisis.

Recently, some state employees have begun receiving unsolicited e-mails from outside entities, urging them to book a free consultation, or click on a survey link.

Don’t do it!

These e-mails are NOT from SERS or Empower Retirement, the third-party administrator of the deferred comp and defined contribution plans.

Please be especially wary of financial planners who present themselves as experts about your SERS retirement benefits. In many cases, their goal is to sell you an investment product.

If you are considering an investment product, be sure to compare the fees for that product to those offered through the SERS Deferred Compensation Plan. In most cases, the deferred comp fees will be lower because they have been professionally negotiated for a large employer-based investment pool.

Stay safe!

To keep your retirement savings safe, don’t click on strange or suspicious links from sources you don’t know. You can trust communications clearly coming from SERS (@PennSERS), or Empower Retirement (@EmpowerToday), or an e-mail address that ends in “pa.gov”.

Remember. If something doesn’t look right – don’t click on it.

We also encourage you to forward the e-mail as an attachment to CWOPA_SPAM@pa.gov so our security specialists can continue to monitor the situation. Then delete it.

Thank you for your attention to this matter, and please continue to stay safe out there.

 

5/15/2020
Active Members: Your 2019 SERS Statement Is in the Mail 

Today, we mailed your 2019 statement directly from our print and mail vendor in Claysburg, PA and made it available in your online member services account.

New this year! Your statement will serve as a snapshot of all your SERS retirement plans as of December 31, 2019, whether you have one or multiple SERS retirement plans. The new statement lists the number of beneficiaries you have on file for each of the plans you contribute to. Beneficiaries are plan specific, so if you contribute to more than one SERS retirement plan, you will need to name beneficiaries for each plan.

Please review your annual statement for accuracy and keep it with your other important financial documents. Your new combined statement will help you plan for your retirement.

If you do not receive your member statement by May 25, 2020, please contact a SERS Retirement Counselor at 1.800.633.5461.

If you would like to receive member updates directly to your e-mail, sign up here.

5/1/2020
Penn SERS Board Approves Temporary Benefit Administration Rule Change
During a telephonic meeting earlier today, the board of the Pennsylvania State Employees’ Retirement System moved to temporarily pause the 95-day per year limit on the time that retirees may work for the state to perform COVID-19 emergency-related services without jeopardizing their monthly pension payments.

 

4/21/2020
SERS Employer Contribution Rate to Drop Slightly Next Fiscal Year
The board of the Pennsylvania State Employees’ Retirement System, meeting by phone today, certified the employer contribution rate for the commonwealth’s 2020-21 fiscal year, approved a new private equity commitment, temporarily expanded the delegation of authority to the system’s Chief Investment Officer, and approved an agreement with The Pennsylvania State University to pre-fund a portion of its pension liabilities.

04/08/20
ALERT: Be Wary of E-mail Offers to Review Your SERS Retirement Plans!

It’s happening again. Unfortunately, a number of online and e-mail opportunists are trying to take advantage of people’s anxieties during the current Coronavirus crisis.

Recently, some state employees have begun receiving unsolicited e-mails from outside entities, urging them to book a free consultation, or click on a survey link.

Don’t do it!

These e-mails are NOT from SERS or Empower Retirement, the third-party administrator of the deferred comp and defined contribution plans.

Please be especially wary of financial planners who present themselves as experts about your SERS retirement benefits. In many cases, their goal is to sell you an investment product.

If you are considering an investment product, be sure to compare the fees for that product to those offered through the SERS Deferred Compensation Plan. In most cases, the deferred comp fees will be lower because they have been professionally negotiated for a large employer-based investment pool.

Stay safe!

To keep your retirement savings safe, don’t click on strange or suspicious links from sources you don’t know. You can trust communications clearly coming from SERS (@PennSERS), or Empower Retirement (@EmpowerToday), or an e-mail address that ends in “pa.gov”.

Remember. If something doesn’t look right – don’t click on it.

We also encourage you to forward the e-mail as an attachment to CWOPA_SPAM@pa.gov so our security specialists can continue to monitor the situation. Then delete it.

Thank you for your attention to this matter, and please continue to stay safe out there.


4/03/2020
PA SERS Board Approves COVID-19-Related Distribution Provision In Deferred Compensation Plan
The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, moved to allow COVID-19-related distributions from SERS Deferred Compensation Plan accounts, consistent with the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.

 

03/15/2020
Important Message for Members, Participants, Stakeholders
Please be assured that SERS leadership is regularly monitoring and continuously evaluating the circumstances for the evolving Coronavirus (COVID-19) situation.

 

03/14/2020
Bensalem Regional Counseling Center Closed
Effective immediately, by order of the Governor, the Bensalem Regional Counseling Center is closed. If you have questions about your SERS pension plan, please e-mail RA-SERSretc@pa.gov or call 1.800.633.5461 and leave a message.

 

03/03/2020
SERS 2020 Supplemental Budget Book Released
The budget book provides detailed information about the retirement plans SERS administered in 2019 and proposed budgets for 2020. Key data is provided in a budget handout that includes the budget highlights, snapshots of data for each SERS-administered retirement plan, and the 2019 Pension Payments By County map.  

As in years past, the budget book includes investment performance, member demographics, actuarial information, and employer funding projections for the Defined Benefit Plan; and participant information, and investment options and performance information for the supplemental, voluntary Deferred Compensation Plan. New this year, you’ll also find participant information, and investment options and performance information for the new Defined Contribution Plan; and participant information for the new Hybrid Plan.

2/26/2020
PA SERS Investments Earn Nearly 19% Return In 2019
SERS Board Approves Up To $500 Million In New Investments

The board of the Pennsylvania State Employees’ Retirement System, meeting here today, received a report on year-end investment returns of 18.8% net of fees for calendar year 2019 and moved to commit up to $500 million in new investments.

01/24/2020
Retirees: Your Annual Statement Is in the Mail
Today, we mailed your Personal Statement of Pension Payments, featuring the 2020 payment calendar, directly from our print and mail vendor in Claysburg, PA. A copy of your statement will be available in your online member services account on Monday.  

 

01/16/2020
Retirees: 1099-R Tax Documents Are in the Mail
Today, we mailed your 1099-R tax documents directly from our print and mail vendor in Claysburg, PA. Your forms will be available in your online member services account tomorrow. If you do not receive your 1099-R tax documents by Jan 31, 2020, please contact a SERS Retirement Counselor at 1.800.633.5461.

 

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