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HB 2407

An Act making appropriations from the Public School Employees' Retirement Fund and from the PSERS Defined Contribution Fund to provide for expenses of the Public School Employees' Retirement Board for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2026.

2025-2026 Regular Session Introduced by Roni Green and 1 co-sponsor

Provides funding from PSERS sources to operate PSERB for 2026-27 and pays outstanding 2025-06 bills.

Act No. 6A of 2026
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WeVote Research Nonpartisan
Bill Summary · HB 2407

Summary of HB 2407 (Session 2025-2026) – Pennsylvania

Overview

HB 2407 is an appropriations bill in Pennsylvania that would authorize financial distributions from two PSERS funds to cover operations and outstanding obligations of the Public School Employees' Retirement Board (PSERB) for a specified fiscal period. The bill covers the fiscal year from July 1, 2026, through June 30, 2027, and also addresses bills incurred but unpaid as of June 30, 2026.

  • Jurisdiction: Pennsylvania
  • Title: An Act making appropriations from the Public School Employees' Retirement Fund and from the PSERS Defined Contribution Fund to provide for expenses of the Public School Employees' Retirement Board for the fiscal year July 1, 2026, to June 30, 2027, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2026.
  • Primary Sponsor: Co-sponsor Jordan Harris
  • Status History:
    • Referred to Appropriations (March 24, 2026)
    • Reported as committed (March 25, 2026)
    • Laid on the table and re-committed to Appropriations (March 25–April 15, 2026)
    • Second consideration and further actions (April 14–15, 2026)

Purpose and Intent

The bill aims to:
- Provide a formal appropriation from PSERS funding sources to finance the ongoing operations of the Public School Employees' Retirement Board (PSERB) for the 2026-2027 fiscal year.
- Ensure that bills incurred by PSERB but unpaid by the end of the 2025-2026 fiscal year are paid, thereby addressing any outstanding financial obligations.

Key Provisions and Changes (as proposed)

  • Source of Appropriations:
    • Public School Employees' Retirement Fund (PSERF)
    • PSERS Defined Contribution Fund
  • Use of Funds:
    • Cover expenses for the PSERB for the 2026-2027 fiscal year.
    • Pay outstanding bills incurred by the PSERB that remained unpaid at the close of the 2025-2026 fiscal year (June 30, 2026).
  • Fiscal Period Covered: July 1, 2026, to June 30, 2027.
  • Administrative Focus: The bill is targeted specifically at the operational costs and obligations of the PSERB rather than broader PSERS programs.

Who/What Would Be Affected

  • Public School Employees’ Retirement Board (PSERB):
    • Would receive funding to operate during the 2026-2027 fiscal year.
    • Would have outstanding bills from the prior year settled.
  • PSERS Funding Structure:
    • The bill leverages funds from the PSERF and the PSERS Defined Contribution Fund, indicating a reliance on existing PSERS financial reserves.
  • Public School Employees/Retirees (indirectly):
    • Beneficiaries of a functioning PSERB, ensuring timely administration of retirement benefits and related services.

Procedural and Timeline Aspects

  • Introduced/Reported: Referred to Appropriations (March 24, 2026); reported as committed (March 25, 2026).
  • Chamber Actions:
    • Laid on the table and later re-committed to Appropriations (March 25–April 15, 2026).
    • Second consideration and additional actions occurred around mid-April 2026.
  • Effective Date (if enacted): Not explicitly stated in the summary provided; typically, appropriations bills become effective for the specified fiscal year (July 1, 2026) or upon enactment, depending on legislative language.

Practical Impact

  • Ensures continued funding for PSERB operations, reducing the risk of disruption in retirement-related services for Pennsylvania public school employees and retirees.
  • Clears previously incurred unpaid bills, helping maintain PSERB’s financial housekeeping and sustainability.

If you’d like, I can add a brief comparison to prior PSERS appropriation bills or provide a layperson’s glossary of PSERS funding terms.

Compiled from official sources — confirm details with the bill’s official record.

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