In March, State Representative Julie Harhart (R-183) introduced in the House of Representatives House Resolution 649 directing the Joint State Government Commission to conduct an economic impact study of the state and school retirement systems (SERS and PSERS) in the Commonwealth of Pennsylvania.
The study would measure such factors as payments to each county, purchasing power, money circulation, and fiscal impact. The Joint State Government Commission study would be at no cost to the Commonwealth.
The Commission would be directed to issue recommendations that may enable the retirement systems to enhance the value of their investments. The study would include the value that might be added and employment that might be generated should the General Assembly enact a cost of living adjustment (COLA) for annuitants similar to those enacted previously.
HR 649 was referred to the House State Government Committee on March 29, 2012.