Pennsylvania 2025-2026 Regular Session

Pennsylvania House Bill HB1304

Introduced
4/28/25  

Caption

In administration and miscellaneous provisions, further providing for stress test of system; and, in administration, funds, accounts and general provisions, further providing for stress test of system.

Impact

The implications of HB1304 are significant for state laws regarding pension management and financial reporting. By formalizing the requirement for annual stress tests and mandating specific reporting timelines, the bill aims to provide a clearer picture of the pension system's health and its future demands on state revenues. This means that stakeholders, including the Governor, General Assembly, and Independent Fiscal Office, will have updated data to make informed decisions regarding budgets and fiscal policies related to pensions.

Summary

House Bill 1304 introduces amendments to Titles 24 and 71 of the Pennsylvania Consolidated Statutes, focusing on the administration and provisions for conducting annual stress tests of the pension systems. This bill mandates that the board conducts comprehensive stress tests, including scenario and sensitivity analyses, with the results to be submitted to key state officials and offices. The proposed changes seek to enhance the transparency and accountability of the pension systems, thereby improving fiscal governance and financial oversight.

Sentiment

The sentiment around HB1304 appears to be generally positive among lawmakers and financial experts, who see it as a proactive step towards ensuring the sustainability of the state's pension funds. However, concern exists regarding the potential administrative burden it may impose on the pension boards responsible for conducting these tests. Advocates argue that the increased scrutiny is necessary to safeguard taxpayer interests and maintain robust financial strategies, while critics point to the need for adequate resource allocation to handle the anticipated analyses.

Contention

Notable points of contention regarding this bill include discussions about the implications of the mandated stress tests on pension management operations and the accuracy of reporting metrics. Moreover, there are debates over whether the proposed changes will adequately address potential deficiencies in the current pension system management or simply layer additional bureaucratic processes without solving underlying issues. As this bill moves through the legislative process, these discussions will likely shape its final form.

Companion Bills

No companion bills found.

Previously Filed As

PA HB778

In administration, funds, accounts and general provisions, further providing for stress test of system.

PA HB1261

In administration and miscellaneous provisions, further providing for administrative duties of the Public School Employees' Retirement Board; and, in administration, funds, accounts and general provisions, further providing for administrative duties of the State Employees' Retirement Board.

PA HB1701

In administration and miscellaneous provisions relating to retirement for school employees, providing for bills implementing supplemental annuities; and, in administration, funds, accounts and general provisions relating to retirement for State employees and officers, providing for bills implementing supplemental annuities.

PA SB994

In general administration, further providing for State recording system for application of restraints to pregnant prisoners or detainees; in county correctional institutions, further providing for county recording system for application of restraints to pregnant prisoners or detainees; and, in miscellaneous provisions, further providing for healthy birth for incarcerated women.

PA HB522

In general provisions, further providing for definitions; and, in rules of the road in general, providing for pilot program for automated speed enforcement systems in school zones.

PA HB1593

Further providing for title of the act; in general provisions, further providing for legislative findings for early intervention, for definitions, for State interagency agreement, for other duties of State agencies and for council; in Statewide system for provision of early intervention services, further providing for requirements, for program regulations and standards, for administration by Department of Public Welfare, for administration by Department of Education and for child identification, assessment and tracking system; in miscellaneous provisions, further providing for effective date; and making editorial changes.

PA SB1290

In preliminary provisions, further providing for definitions; in patients, further providing for prohibitions; in miscellaneous provisions, further providing for protections for patients and caregivers and providing for enforcement and civil actions; and promulgating regulations.

PA HB2042

In revenues, providing for audits of Pennsylvania Race Horse Development Trust Fund; in administration and enforcement, further providing for investigations and enforcement; in general provisions, further providing for definitions; in administration, further providing for records and confidentiality of information; in application and licensure, further providing for establishment licenses, for license or permit prohibition, for issuance and renewal and for conditional licenses; in operation, further providing for testing and certification of terminals and for video gaming limitations, providing for hours of operation and further providing for terminal placement agreements and for compulsive and problem gambling; in enforcement, further providing for investigations and enforcement; in revenues, further providing for distribution of local share, for regulatory assessments and for transfers from Video Gaming Fund; in ethics, further providing for political influence; in riot, disorderly conduct and related offenses, further providing for the offense of gambling devices, gambling, etc.; providing for implementation; and making a repeal.

PA HB2622

In preliminary provisions, further providing for definitions; in administration, further providing for confidentiality of records; and providing for abuse and neglect registry.

PA HB1880

In preliminary provisions, further providing for definitions; and, in miscellaneous, providing for release testing and reimbursement.

Similar Bills

No similar bills found.