The civic record
Read. Follow. Verify.Pennsylvania House Bill 429 mandates $1 billion in transfers from the Budget Stabilization Reserve Fund to state pension systems by January 1, 2026
Last action · January 31, 2025: Referred to STATE GOVERNMENT, Jan. 31, 2025Sponsors: Joe Ciresi and 11 others
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What This Bill Would Do
Pennsylvania House Bill 429 requires a total of $1 billion to be transferred from the state's Budget Stabilization Reserve Fund to public pension funds by January 1, 2026. Specifically, it directs $670,000,000 to the Public School Employees' Retirement Fund and $330,000,000 to the State Employees' Retirement Fund to reduce unfunded liabilities. The measure takes effect immediately upon enactment.
The legislation alters the allocation of state reserve funds by directing large sums specifically toward reducing long-term pension debt rather than general budget emergencies, affecting the capitalization levels of both the Public School Employees' Retirement System and the State Employees' Retirement System.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Public School Employees' Retirement System
Receives a one-time supplemental transfer of $670,000,000 aimed at reducing its unfunded actuarial accrued liability.
State Employees' Retirement System
Receives a one-time supplemental transfer of $330,000,000 aimed at reducing its unfunded actuarial accrued liability.
Budget Stabilization Reserve Fund
Experiences a $1 billion reduction in total balances due to the mandated interfund transfers.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Where does the money for these pension transfers come from?
What is the deadline for completing the pension fund transfers?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
1 action- Jan 31, 2025HouseCommitteeReferred to STATE GOVERNMENT, Jan. 31, 2025
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Show 7 more sponsors
Connected Entities
Sources
www.palegis.us
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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