Please ensure Javascript is enabled for purposes of website accessibility Pennsylvania House passes Conklin bill to help state retirement plans operate more efficiently

Pennsylvania House passes Conklin bill to help state retirement plans operate more efficiently

Would give agencies more workable deadlines to complete required financial testing

Rep. Scott Conklin    January 28, 2026 | 2:44 PM

HARRISBURG, Jan. 28 — The state House today unanimously passed legislation sponsored by state Rep. Scott Conklin that would allow Pennsylvania’s pension systems for state and public education employees to operate more efficiently by implementing a deadline change requested by the administering agencies.

Conklin’s H.B. 1304 would adjust the deadlines for the Pennsylvania State Employees’ Retirement System and the Public School Employees’ Retirement System to complete and submit the results of required annual financial testing so that the deadlines better align with the agencies’ fiscal year.

“State law requires SERS and PSERS to conduct annual financial stress testing to assess the financial health of their pension funds and the plans’ ability to withstand adverse market conditions,” Conklin said. “The law also sets deadlines for the agencies to complete and submit the test results to state officials and for the Independent Fiscal Office to compile the results into a summary report.

“The agencies have told us the current deadlines are not workable and have asked that they be adjusted to provide more time,” Conklin said. “My bill would move the testing and reporting deadlines back by three months to better align with the agencies’ fiscal year and actuarial practices.”

Conklin said SERS – which already conducts more rigorous testing than required by state law – has been unable to meet the July 1 deadline for delivering its comprehensive report, and that both SERS and the Independent Fiscal Office have indicated that additional time is needed to maximize the report’s value.

Conklin’s bill would move the deadline for SERS to complete and submit its testing from July 1 to Oct. 1, and the deadline for the Independent Fiscal Office to produce its summary report from Sept. 1 to Dec. 1. The bill would also move the deadline for PSERS to complete and submit its testing from Jan. 1 to April 1, and the deadline for the Independent Fiscal Office’s summary report from March 1 to June 1.

The bill now heads to the state Senate for consideration.