Lege Trend: Pay Pension Costs with State Savings Fund. Keystone State Edition.

Pennsylvania wants to use which state funds to pay pension costs? The State’s Surplus Revenue Fund

What triggered this idea? PA’s Legislative Audit Advisory Committee voted to accept the audit report 

Why does this sound familiar? Texas Comptroller Hegar proposed a similar idea in recent weeks. 

PennLive | Let’s drain the Legislature’s slush fund and use it to pay for pensions: Dan Truitt

Statesman | Comptroller Glenn Hegar: Reform rainy day fund to tackle pension issue

informed:intel on March 23, 2017:

Comptroller Glenn Hegar proposes investing to meet Texas long term obligations.

The Comptroller’s proposed idea:

• set aside some state Treasury balances to address long-term obligation by either:
  •  reserving a portion of the existing Economic Stabilization Fund
  • -or- 
  • capping the ESF and dedicating a portion above the cap to the permanent fund for long term obligations
• 7 states use long term investing on their severence taxes; including:
  • Alaska, Montana, New Mexico, North Dakota, Utah, West Virginia and Wyoming

Comptroller | Investing to Address Long-Term Obligations