| Category: | Insurance agency, |
|---|---|
| Address: | 760 E Drinker St, Dunmore, PA 18512, USA |
| Postal code: | 18512 |
| Phone: | (570) 346-6020 |
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The Pennsylvania Municipal Retirement System seeks to help Pennsylvania s local governments, regardless of size or resources, secure the future retirement of their employees by providing comprehensive, cost efficient and professional pension administration services through a pension plan tailored to the participants' and sponsor's requirements.
Effective August 1, 2016, the duties were fully transitioned to the newly created Municipal Pension Reporting Program (MPRP) within the Department of the Auditor General's Office of Budget and Financial Management. You can contact MPRP at 717-787-3637; 833-852-4335; email: MPRP@PaAuditor.gov . Reports, data and documents for municipalities ...
Municipal Pension Reform. The League supports reform of the future pension benefits provided to police officers and firefighters. The current mandated defined benefit plans are not sustainable for a number of reasons including an early retirement age, the impact of Act 111 agreements and awards and the placement of investment risk solely on the ...
Historically, the pension plans of police and firefighters have been responsible for most of the debt. Nearly 70 percent of that $7.7 billion debt, or $5.3 billion, belonged to Philadelphia ...
In the fiscal year 2020, total contributions of $10.8 billion were made to Pennsylvania's state and local pension systems. Of this amount, $2.0 billion came from employees. The remainder came from state and local governments. The table below provides information about pension contributions in Pennsylvania in the fiscal year 2020.
Pennsylvania Municipal Pension is located in Lackawanna County of Pennsylvania state. On the street of East Drinker Street and street number is 760. To communicate or ask something with the place, the Phone number is (570) 346-6020.
CategoriesHandbooks for Local Government Officials, Publications and Documents File Type Download2931 Size695.88 KB Create DateJanuary 1, 1970 Last UpdatedSeptember ...
Act 205 Distress Scores Based on the 2021 Actuarial Valuation Reports - 8/31/2022 - Municipalities listed have all of their reported pension plans filed with the Municipal Pension Reporting Program (MPRP). If a municipality has one or more plans outstanding a distress score cannot be determined until all plans have been filed with MPRP.
The Revenue Transmittal Form instructs PMRS to credit appropriate account (s). The form is used to track all remittances for a municipality and to reconcile the "Total Reported Payment" portion of the Quarterly Report of Contributions (PMRB-21). It also shows PMRS the source of payment, such as Municipal or General Fund Monies, Act 205 State ...
Furthermore, a commonly cited statistic is that Pennsylvania municipal pension plans have an unfunded liability of $8 billion and wrongfully suggest this represents a crisis for all municipalities. In essence, this aggregate dollar liability figure is correct; however, a staggering $7 billion (88%) of this statewide unfunded liability total is ...