Latest News

You are welcome to sign up to have SERS' press releases and board meeting agendas automatically emailed to you. If you are a member of the media working on a story, email your questions to phile@pa.gov or call our communications office at 717.787.9657. It's helpful to let us know if you're working on a deadline and which media outlet you represent.

02/21/2024
SERS 2024 Supplemental Budget Book Released

The budget book provides detailed information about the retirement plans SERS administered in 2023 and proposed budgets for commonwealth fiscal year 2024-25. Key data is provided in a budget handout that includes the budget highlights, snapshots of data for each SERS-administered retirement plan, and the 2023 Pension Payments By County map.

As in years past, the budget book includes investment performance, member demographics, actuarial information, and employer funding projections for the Defined Benefit (pension) Plan, and participant information, and investment options and performance information for both the Defined Contribution Plan and the supplemental, voluntary Deferred Compensation Plan. You’ll also find information on the Hybrid Plan that is the default plan for most state employees hired since 2019, in which a portion of the employee’s retirement benefit comes from the Defined Benefit (pension) Plan and a portion comes from the Defined Contribution (investment) Plan.


02/13/2024
Winter Weather Impacts Services at Regional Offices

The Bensalem, Harrisburg, Wilkes-Barre, and State College regional offices will be closed to in-person services today. Plan specialists will be available by phone and email.

The Seneca, Pittsburgh, and Montoursville regional offices are operating as normal.


01/26/2024

Retirees: Your Annual Statement Is in the Mail

Today, we mailed your Personal Statement of Pension Payments, featuring the 2024 payment calendar, directly from our print and mail vendor in Claysburg, PA. A copy of your statement is available in your online member services account.

If you would like to receive retiree updates directly to your e-mail, sign up here.

01/19/2024

Winter Weather Impacts Services at Regional Offices

SERS Regional Offices are closed to in-person services today. Plan specialists are available by phone and email.

01/16/2024

Winter Weather Impacts Services at Regional Offices

The Bensalem, Harrisburg, Montoursville, and Seneca regional offices will operate on a 2-hour delay, opening to in-person services at 11:30 a.m.

The Pittsburgh and Wilkes-Barre regional offices will be closed to in-person services today. Plan specialists will be available by phone and email.

The State College regional office is operating as normal.

01/16/2024
1099-R Tax Documents Are in the Mail

Today we mailed your 1099-R tax documents directly from our print and mail vendor in Claysburg, PA. If you do not receive your 1099-R tax documents by January 26, 2024, please contact a SERS Defined Benefit Plan Specialist at 1.800.633.5461.

You can expect your account statement, featuring the 2024 payment calendar, in about a week. It, too, will be mailed from Claysburg.

 

01/12/2024

Update Regarding Online Member Services Outage

Our online member services were impacted by a server outage last week at the Office of Administration. Teams are working to restore the services as soon as possible.

We want our members to know their pension data remains secure. No pension or other retirement benefit data was impacted. Our online member services provide our members with a snapshot-in-time view of their pension benefit data pulled from our records here at SERS. It provides our members with a view of their pension benefit information, annual statements, tax documents, and it allows our active members to calculate pension estimates as they plan for retirement.

Please note that users will need to complete the online account verification and PIN selection process again to access their online account. In addition, members will need to recalculate any pension estimates that were saved in their online accounts. Such estimates are unofficial estimates. Actual pension benefits are calculated here at SERS by benefit specialists.

Please know that there has been no impact on your online Defined Contribution Plan account or Deferred Compensation Plan account, which are administered by our third-party administrator of those plans, Empower.

Again, no pension data has been lost, stolen, or inappropriately accessed. Your pension data remains secure.


01/09/2024

Penn SERS Board Holds Organizational Meetings
Board Chair Thall Appoints Budget Secretary Monson Assistant Board Chair, Committee
Chairs Elected and Assistant Chairs Appointed

HARRISBURG – The Pennsylvania State Employees’ Retirement Board held organizational meetings today. Board Chair Thall appointed Budget Secretary Uri Monson Assistant Board Chair.

01/09/2024

Winter Weather Closes Regional Offices

The State College regional office will be closed to in-person services today. Plan specialists will be available by phone and email.

The Seneca regional office will operate on a 3-hour delay, opening to in-person services at 11:30 a.m.

01/04/2024 SERS MES application is currently unavailable

Due to unforeseen commonwealth IT outages, the SERS MES application is currently unavailable. Technicians are working on the issues and hope to have the problem resolved soon. We apologize for any inconvenience to employers or members that might be affected.

12/12/2023

Penn SERS Announces Investment Returns; Approves $220 Million in New Investments

HARRISBURG – The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, received a report on pension fund investment performance showing the fund has earned more than 5% through Sept. 2023.

09/26/2023

Penn SERS Announces Investment Returns;
Approves Stress Testing and Risk Assessment Report and Joining Securities Fraud Recovery Services Pilot Project

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, received a report on investment returns for the second quarter and first half of calendar year 2023, and approved the 2023 Stress Testing and Risk Assessment Report and joining the National Conference on Public Employee Retirement Systems’ Securities Fraud Recovery Services pilot project.

09/01/2023

Retirees: SERS Member Data Not Exposed In PBI Software Vulnerability

A number of retirees have reported receiving a letter from PBI (Pension Benefit Information, LLC), indicating that personal information about the retiree was on a server that had been exploited by an unauthorized third party.

Please know that SERS does not make use of the servers involved.

PBI provides audit and address research services for insurance companies, as well as pension funds and other organizations. While we do contract with PBI for their audit services, we do not make use of the company’s MOVEit Transfer servers.

08/17/2023

Regional Office In-Person Services Interrupted, Staff Remain Available While Working Remotely

SERS regional offices will be closed to in-person visits over the next few weeks to allow for tech system maintenance, as listed in the following schedule:

          Bensalem: 8/22/2023           State College: 8/24/2023           Wilkes-Barre: 8/24/2023

Staff will continue to help members while working remotely.

You can contact a Defined Benefit Plan (pension) specialist at ra-SERSretc@pa.gov or 1.800.633.5461.

You can reach a Defined Contribution Plan or Deferred Compensation Plan specialist at 1.866.737.7457.
08/03/2023

Regional Office In-Person Services Interrupted, Staff Remain Available While Working Remotely

SERS regional offices will be closed to in-person visits over the next few weeks to allow for tech system maintenance, as listed in the following schedule:

          Seneca: 8/9/2023
          Pittsburgh: 8/10/2023

Staff will continue to help members while working remotely.

You can contact a Defined Benefit Plan (pension) specialist at ra-SERSretc@pa.gov or 1.800.633.5461.

You can reach a Defined Contribution Plan or Deferred Compensation Plan specialist at 1.866.737.7457

07/25/2023

Penn SERS Board Approves Strategic Plan Outlining a Digital Transformation
Hires NEPC as Real Estate Investment Consultant, Invests $100 Million in Private Equity

The Board of the Pennsylvania State Employees’ Retirement System, meeting at the AFSCME 13 Conference Center earlier today, approved a strategic plan to expand retirement service delivery options.

07/25/2023

Partial-Day Closing Friday

SERS offices will be closing at noon on Friday, July 28, 2023, for necessary building HVAC repairs. The repairs require a power outage in SERS Central Office, impacting our data systems. During the repair work, the phone system also will be unavailable.

07/17/2023

Emergency Closing - Harrisburg:

Due to an issue with the HVAC system at 30 North Third Street, SERS’ building will be closed tomorrow, Tuesday, July 18, 2923, and our field offices will not have access to our systems. Scheduled board committee meetings will all be held virtually through Microsolft Teams.

06/28/2023

Retired Members: Did you choose a pension payment option that provides a monthly payment to someone after your death?

If so, and that person died, or you divorced or married on or before 8/20/2016, a deadline is nearing!

The payment option you selected on your pension application is final and binding, except in very limited circumstances. Those circumstances include the death of the individual you named as your “survivor” (someone who will receive monthly payments after your death), your marriage, or your divorce.

If any of those events occurred on or prior to Aug. 20, 2016, the deadline in which you may change your pension payment option is nearing.

You have until Aug. 20, 2023, or seven years from the “qualifying event” (survivor’s death, your marriage or divorce), whichever is later, to submit your option change application.

That means if you experience a qualifying event in the future or experienced a qualifying event after Aug. 20, 2016, you have seven years in which you may change your pension payment option.   

Please keep in mind that choosing a new payment option requires the recalculation of your pension. A recalculation is likely to reduce your monthly payments; however, your life situation may make the decrease worth it. For example, having the opportunity to provide monthly payments for another person after your death.

If you have a qualifying event, please contact your Defined Benefit Plan Specialist for more information and the proper forms.

This limited right to change your pension payment option is detailed in 4 Pa. Code §247.5a.

06/15/2023

Penn SERS 2022 Financial Reports Available

The Pennsylvania State Employees’ Retirement System today announced the release of its 2022 Annual Comprehensive Financial Report for the calendar year ended Dec. 31, 2022.

The purpose of this report is to provide a clear accounting of SERS’ operations and financial position with details about the traditional Defined Benefit Plan and the Defined Contribution Plan.

06/13/2023
Penn SERS Board Receives First Quarter Investment Performance Reports, Accepts Independent Audits

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, received a report on first quarter investment performance.

05/02/2023
Penn SERS Board Approves Employer Contribution Rates,
Updates Policies, Begins Search for Third-Party Administrator, and Recognizes Departing Board Members

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, certified the employer contribution rates for the upcoming fiscal year and approved several policies.

04/21/2023 

An incorrect telephone number was published on page three of the recently distributed SERS News (spring/summer 2023 edition), in the article titled “IRS Released New Form W-4P for 2023.” We have not changed our telephone number. To obtain a copy of the new W-4P form, please call us at 1.800.633.5461, press 1 for retired members and press 2 for forms. The phone number has been corrected in the archived copy on our website.

We apologize for any inconvenience and frustration.

03/21/2023 Active Members: Your 2022 SERS Statement is in the Mail 

Today, we mailed your 2022 statement directly from our print and mail vendor in Claysburg, PA and made it available in your online member services account.

Your statement provides a snapshot of all your SERS retirement plans as of December 31, 2022, whether you have one or multiple SERS retirement plans. The statement lists the number of beneficiaries you have on file for each plan. Beneficiaries are plan specific, so if you contribute to more than one SERS retirement plan, you will need to name beneficiaries for each plan.

Please review your annual statement for accuracy and keep it with your other important financial documents. Your combined statement will help you plan for your retirement.

If you do not receive your member statement by April 4, 2023, please contact a SERS plan specialist at ra-sersretc@pa.gov or 1.800.633.5461.

If you would like to receive member updates directly to your e-mail, sign up here.

 

03/02/2023
SERS 2023 Supplemental Budget Book Released

The budget book provides detailed information about the retirement plans SERS administered in 2022 and proposed budgets for commonwealth fiscal year 2023-24. Key data is provided in a budget handout that includes the budget highlights, snapshots of data for each SERS-administered retirement plan, and the 2022 Pension Payments By County map.

As in years past, the budget book includes investment performance, member demographics, actuarial information, and employer funding projections for the Defined Benefit Plan; and participant information, and investment options and performance information for the supplemental, voluntary Deferred Compensation Plan. You’ll also find participant information, and investment options and performance information for the Defined Contribution Plan; and participant information for the Hybrid Plan.

02/28/2023
Penn SERS Extends Investment Consultant Contracts, Announces 4th Quarter and Year-End 2022 Investment Performance, Approves $75 Million Investment

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, approved extending its current general investment consultant contracts, announced fourth quarter and year-end 2022 investment performance, and approved a $75 million investment.

1/26/2023
Retirees: Your Annual Statement Is in the Mail
Today, we mailed your Personal Statement of Pension Payments, featuring the 2023 payment calendar, directly from our print and mail vendor in Claysburg, PA. A copy of your statement is available in your online member services account.  

If you would like to receive retiree updates directly to your e-mail, sign up here.

1/25/2023
Winter Storm Closes Regional Offices

The State College, Pittsburgh, Seneca, and Wilkes-Barre regional offices will be closed to in-person services today.

Plan specialists and other staff will be working remotely.

 

1/23/2023
Icy Weather Closes Wilkes-Barre Regional Office

The Wilkes-Barre regional offices will be closed to in-person services today.

Plan specialists and other staff will be working remotely.  

1/17/2023 
Icy Weather Closes State College Office

The State College regional office will be closed to in-person services today.

Plan specialists and other staff will be working remotely. 


1/13/2023 
Retired Members: 1099-R Tax Documents Are in the Mail Today, we mailed your 1099-R tax documents directly from our print and mail vendor in Claysburg, PA. Your forms are also available in your online member services account. If you do not receive your 1099-R tax documents by January 27, 2023, please contact a SERS Defined Benefit Plan Specialist at 1.800.633.5461.

You can expect your account statement, featuring the 2023 payment calendar, in about a week. It, too, will be mailed from Claysburg and available in your online member service account shortly thereafter.

If you would like to receive retiree updates directly to your e-mail, sign up here.

12/27/2022

A Broken Water Line Closes SERS Regional Office

The Pittsburgh regional office will be closed to in-person services today. Plan specialists and other staff will be working remotely. 


12/23/2022

Icy Weather Closes SERS Regional Offices

Plan specialists and other staff will be working remotely. Our regional offices are scheduled to reopen to in-person services at 8:00 a.m., Tue. Dec. 27, 2022.

12/22/2022

Icy/ Snowy Weather Closes Regional Offices

The State College  regional office will be closed to in-person services today.

Plan specialists and other staff will be working remotely.


12/12/2022

Penn SERS Approves $100 million Investment
Reviews Investment Performance

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, approved $100 million investment, and received a report on third quarter and year-to-date investment performance.


10/14/2022
Field Offices To Close For Equipment Upgrades, Staff Remain Available While Working Remotely

Five field offices will be closed to in-person visits on one or two days over the next two weeks to allow for equipment installation, as listed in the following schedule:

Bensalem: 10/17 & 10/18

Montoursville: 10/19 & 10/20

Wilkes-Barre: 10/20

Seneca: 10/24 & 10/25

Pittsburgh: 10/26 & 10/27

Staff will continue to help members while working remotely.
You can contact a Defined Benefit Plan (pension) specialist at ra-SERSretc@pa.gov or 1.800.633.5461.
You can reach a Defined Contribution Plan or Deferred Compensation Plan specialist at Participant_services@empower.com or 1.888.773.7748.

 

09/29/2022
Penn SERS Board Receives Improved Stress Testing and Risk Assessment Report,
Approves $225 million in Private Market Investments

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, approved private equity investments totaling up to $125 million.

07/25/2022
Penn SERS Board Approves Private Equity Investments

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, approved private equity investments totaling up to $125 million.

07/05/2022
SERS State College Office Closed to the public 7/5 and 7/6

The SERS State College office will be closed 7/5 and 7/6 due to HVAC repairs. While the office is closed, SERS staff will continue to serve members while working remotely, without disruption. 


06/29/2022
Empower Harrisburg Office Closed Through Mid-July

The Empower Harrisburg office will be closed through mid-July for restoration. While the office is closed, Empower staff will continue to serve participants while working remotely, without disruption. Please visit: http://www.sers.pa.gov/Contact-DCP-Plan.html for contact information.


06/16/2022
Penn SERS 2021 Financial Report Available

The Pennsylvania State Employees’ Retirement System today announced the release of its 2021 Annual Comprehensive Financial Report for the calendar year ended Dec. 31, 2021.

The purpose of this report is to provide a clear accounting of SERS’ operations and financial position with details about the traditional Defined Benefit Plan and the Defined Contribution Plan.

6/14/22
Carefully Consider Unsolicited Offers to Help You Understand Your State Benefits!

SERS members have reported an increase in the number of unsolicited offers from businesses to help them understand how their state benefits, from retirement plans to life insurance, fit into their retirement planning.

Be Wary
Please be wary of financial planners who present themselves as experts about your SERS retirement benefits. In many cases, their goal is to sell you an investment product.

Unless an e-mail comes from SERS or Empower, the third-party administrator of the Defined Contribution Plan and the Deferred Compensation Plan, be very wary.

Compare Fees
If you are considering an investment product, be sure to compare the fees for that product to those offered through the SERS Deferred Compensation Plan. In most cases, the deferred comp fees will be lower because they have been professionally negotiated for a large employer-based investment pool.

Retirement Plan Questions?
If you have questions about your SERS retirement plans, contact a plan specialist:

Defined Benefit Plan (pension) – ra-sersretc@pa.gov  or 1.800.633.5461 Defined Contribution Plan (personally selected investments) - Participant_services@empower.com or 1-866-737-7457 Deferred Compensation Plan (voluntary, supplemental plan) - Participant_services@empower.com or 1-866-737-7457


06/10/2022
Penn SERS Board Reduces Investment Return Assumption
Approves $200 Million in New Investments, Announces First Quarter 2022 Investment Returns

The Board of the Pennsylvania State Employees’ Retirement System, meeting here today, lowered the investment return assumption, approved $200 million in new investments, and announced first quarter 2022 investment returns.  

06/08/2022
Empower Harrisburg Office Temporarily Closed Beginning June 8

The Empower Harrisburg office will be closed June 8 – through the end of the month, for restoration. While the office is closed, Empower staff will continue to serve participants while working remotely, without disruption. Please visit: http://www.sers.pa.gov/Contact-DCP-Plan.html for contact information.

 

05/24/2022
Montoursville Field Office Temporarily Closed Beginning May 31

The Montoursville field office will be closed May 31 - mid-June, for renovations. While the office is closed, SERS staff will continue to serve members while working remotely, without disruption.


05/20/2022
Bensalem Field Office to Closing Early Today

The Bensalem field office will close at 3:00 pm this afternoon, Fri. 05/20/2022, due to severe weather forecast for Bucks County. The office is scheduled to reopen at 8:00 a.m. Mon. 05/23/2022.  

 

05/05/2022
Penn SERS Board Approves Employer Contribution Rate,
Hires Private Equity Investment Consultant, Updates Policies

The Pennsylvania State Employees’ Retirement System Board, meeting here today, certified the employer contribution rate for the upcoming fiscal year, selected a private equity investment consultant and approved several investment-related policies.  


3/22/2022
Active Members: Your 2021 SERS Statement is in the Mail 

Today, we mailed your 2021 statement directly from our print and mail vendor in Claysburg, PA and made it available in your online member services account.

Your statement provides a snapshot of all your SERS retirement plans as of December 31, 2021, whether you have one or multiple SERS retirement plans. The statement lists the number of beneficiaries you have on file for each. Beneficiaries are plan specific, so if you contribute to more than one SERS retirement plan, you will need to name beneficiaries for each plan

Please review your annual statement for accuracy and keep it with your other important financial documents. Your combined statement will help you plan for your retirement.

If you do not receive your member statement by April 1, 2022, please contact a SERS plan specialist at ra-sersretc@pa.gov or 1.800.633.5461.

If you would like to receive member updates directly to your e-mail, sign up here.

 

03/04/2022
Penn SERS Board Calls for Divestment of Russia-Related Investments
Announces 17.24% Return on Investments in 2021, Approves $400 Million in New Investments

The Pennsylvania State Employees’ Retirement System Board, meeting by video conference today, directed staff and hired managers and consultants to take all actions necessary to divest SERS of all Russia-related assets in a prudent manner and within a reasonable time.

 

3/3/2022
Receive a disclosure letter from Empower Retirement?
Want to update or change your e-mail address for your Deferred Comp and/or Defined Contribution Plan?
Get Started

3/2/2022
SERS 2022 Supplemental Budget Book Released

The budget book provides detailed information about the retirement plans SERS administered in 2021 and proposed budgets for commonwealth fiscal year 2022-23. Key data is provided in a budget handout that includes the budget highlights, snapshots of data for each SERS-administered retirement plan, and the 2021 Pension Payments By County map

As in years past, the budget book includes investment performance, member demographics, actuarial information, and employer funding projections for the Defined Benefit Plan; and participant information, and investment options and performance information for the supplemental, voluntary Deferred Compensation Plan. You’ll also find participant information, and investment options and performance information for the Defined Contribution Plan; and participant information for the Hybrid Plan.

1/25/2022 Deferred Comp and Defined Contribution Plan Participants:
Update to Disclosure Letter from Empower Retirement

If you received a disclosure letter from Empower Retirement asking you to verify your e-mail address so that you receive retirement plan statements and other important notices, please note that the instructions to update or change your e-mail address are incomplete on the letter.

To update or change your e-mail address for your Deferred Compensation Plan and/or Defined Contribution Plan account:

  1. Click on your plan in the dark blue bar above.
  1. Click “Account Sign In” in the drop-down menu.
  1. Click your name/initials in the top right corner of your account homepage, then update your Profile with your e-mail address or phone number.

We apologize for any inconvenience caused by the incomplete information in the letter.

If you have any questions, please call 1.866.737.7457.


1/25/2022
Retirees: Your Annual Statement Is in the Mail

Today, we mailed your Personal Statement of Pension Payments, featuring the 2022 payment calendar, directly from our print and mail vendor in Claysburg, PA. A copy of your statement is available in your online member services account.   If you would like to receive retiree updates directly to your e-mail, sign up here.

1/14/2022
Retirees: 1099-R Tax Documents Are in the Mail

Today, we mailed your 1099-R tax documents directly from our print and mail vendor in Claysburg, PA. Your forms will be available in your online member services account on Tuesday, January 18. If you do not receive your 1099-R tax documents by January 28, 2022, please contact a SERS Defined Benefit Plan Specialist at 1.800.633.5461.

You can expect your account statement, featuring the 2022 payment calendar, in about a week. It, too, will be mailed from Claysburg and available in your online member service account shortly thereafter.


01/14/2022
Penn SERS Board Holds Committee Organizational Meetings
Committee Chairs Elected and Assistant Chairs Appointed

The Board of the Pennsylvania State Employees’ Retirement System held organizational committee meetings today to elect committee chairs, who then appointed assistant chairs. Both committee positions are for a period of two years.



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