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August 10, 2015

Attention All PSERS Members:  Notice of Telephone Scam

A member reported that he received a recorded call purportedly from the Premium Assistance unit saying he won a $100 gift card and that after the recording a representative came on the line and told him that the gift card was from PSERS and all he had to do was pay $1 with his credit card.  Please note that PSERS does not award $100 gift cards.  If you get such a call, try to acquire any potential identifying information such as what number were you called from if you have Caller ID. You should then report the call and any identifying information to the Federal Trade Commission (FTC) at 1-888-382-1222.

August 6, 2015

Member Alert: Update on Duplicate Direct Deposits

The Pennsylvania Treasury Department continues to work closely with PSERS to resolve the duplicate direct deposit payment issue. Treasury has notified PSERS that they have successfully reversed the majority of the July 31st duplicate direct deposit payments.

Treasury has identified 322 direct deposit payments to PSERS’ members that were not successfully reversed. These overpayments must be returned to Treasury. PSERS will contact those 322 members directly to provide instructions to return the duplicate payments to Treasury.  

July 30, 2015

Member Alert: Duplicate Direct Deposits
The Pennsylvania Department of Treasury notified PSERS that a limited number of PSERS members may receive duplicate direct deposit payments on July 31st. 

Treasury is working closely with all impacted financial institutions to have these duplicate payments reversed as quickly as possible.

Some members may see three postings in their account for July 31st, which include two deposits and one reversing the duplicate deposit.

PSERS suggests that members leave any misapplied payment in their account until the issue has been corrected.

As more information becomes available, this posting will be updated. We apologize for any inconvenience this may cause. .

July 09, 2015
Pension Reform Legislation Update – Senate Bill 1 (SB 1) is vetoed by Governor

On July 9, 2015 Governor Tom Wolf vetoed SB 1 which would have made significant changes to the structure of pension benefits of new PSERS’ members and would have also made some changes to future benefits earned by current PSERS’ members.

PSERS will continue to closely monitor legislative activity regarding pension reform and will keep members updated.

July 01, 2015
Commonwealth Budget Impasse Information

If you have questions about how a budget impasse will affect operations, please see FAQs here: 

June 16, 2015
Press Release: PSERS posts March 31, 2015 quarterly investment performance; Fund earned 2.82% for the quarter and 7.93% for the one-year period ended March 31, 2015


May 14, 2015
Pension Reform: Update
Pension reform remains a top legislative issue in Harrisburg.  

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