Overview The actuarial changes in Act 120 also put a plan in place to pay off the existing pension liabilities through the use of rate collars and funding methodology changes Although a cost deferral occurs, there is a net savings under Act 120 vis-à-vis the pre-Act 120 status quo Still, the employer contribution rate remains high for the foreseeable future as the existing debt still needs to be paid off www.psers.state.pa.us 9
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