State pensions have been under funded for the better part of a decade. Required
annual contributions to PSERS (Public School Employees' Retirement System) will
skyrocket from $617 million to an estimated $4.2 Billion. In order for the state to
make this payment, each property owner in Pennsylvania will be assessed, on
average, an additional $385 per a year, starting in 2012. For school districts within
the 113th the estimates range from a low of $334 for Mid Valley to a high of $708 for
Scranton. This will be detrimental to every property owner in the 113th district. In
addition, the annual SERS (State Employees' Retirement System) pension funding
requirement will also skyrocket from $226 million to an estimated $1.9 Billion.