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June 05, 2023 - Harrisburg, PA

Auditor General DeFoor Warns Nearly 22 Percent of Municipal Pension Plans are in Distress; Reminds Local Governments to Make Required Contributions

Auditor General Timothy L. DeFoor issued a warning for municipalities to make the required contributions to their pension plans, after a recent report from the department showed 22 percent of municipal pension plans are in some state of distress.

"Municipal pension plans help us take care of the people who are taking care of us, like police officers, firefighters, and non-uniform employees who after a long stellar career want to retire," Auditor General DeFoor said. "It is our obligation to make sure these pension plans are in good enough shape so they can retire."

Auditor General DeFoor warned that municipalities are legally obligated to make their required contributions to their pension plans. If they do not, he said, the burden will fall to the taxpayers in the form of higher taxes or difficult choices in funding community projects and personnel.

Speakers Include:
Auditor General Tim DeFoor