School retirement costs

School retirement costs in Pennsylvania will continue their inexorable march up in 2022, burdening both the state and local school district budgets.

HARRISBURG (TNS) — Pennsylvania’s public schools’ retirement cost crisis is still a raging fire consuming billions of dollars of taxpayer dollars a year, but at least it’s stopped growing.

A Public School Employees Retirement System committee on Thursday moved to charge school districts 35.26% of payroll to fully fund pension system costs in fiscal 2022-23. That percentage, called the employer contribution rate, means the state and school districts together are obligated to pay an extra $35.26 for every $100 of paid salary to cover pension system costs.

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