Pension contribution rates rise for 94K school employees
HARRISBURG, Pa. (AP) — Pension contribution rates for tens of thousands of public school employees in Pennsylvania are rising, amid a federal investigation into some pension system actions and calls for resignations. The increases took effect Thursday for about 94,000 school employees, all hired in 2011 or after. Most will see their contribution rate rise by 0.5% of their salary, while a smaller number of them will see their contribution rate rise by 0.75% of their salary. The board of the $64 billion Public School Employees’ Retirement System voted in April to increase the contribution rates, after it had originally certified them at lower rates in December.