8/14/2019 Pennsylvania Pension Increases

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HowMuchWillPennsylvaniasPublicPensionsCostYourFamilyin2012?

SchoolPropertyTaxIncreaseforPSERS StateTaxIncreaseforPSERS&SERS

Pennsylvanias

statewide

pension

plans

for

public

school

employees,

state

workers,

legislators,

judges

and

other

government

employees

the

PublicSchoolEmployeeRetirementSystem (PSERS) andtheStateEmployeeRetirementSystem(SERS) willrequiresignificantlyhigher

taxpayercontributionsinthe201213fiscalyearandbeyond.

Thefollowingspreadsheetsprovideabreakdownoftheseincreasedpensioncosts,basedonSERSandPSERSlatestprojectionstomakethem

moreunderstandableandtangibleforthetaxpayer.

SERScostsarepaid100%bystatetaxpayersthroughtaxessuchasthepersonalincome,sales,andcorporateincometaxes. PSERS costsaresplit

with

about

54%

paid

by

state

taxpayers

and

46%

paid

by

school

district

taxpayers.

On

average,

school

district

property

taxes fall

69%

on

residential propertyand31% oncommercialpropertytaxpayers.

Forillustrationpurposes,thelocal propertytaxincreaseisrepresentedinaperhomeownerbasistopresenttheimpactofthesecoststoa

community. Thestatecostsarepresentedonaperhouseholdbasis. Althoughtheincreasedcostswillbepaidthroughmyriadtaxesonmyriad

taxpayingentities,itisultimatelyindividualsandfamiliesnotbusinessesorcorporationsthatshouldertheburdenofalltaxes.

Residential $381 PSERS $418

Commercial $171 SERS $390

TOTAL $552 TOTAL $808

Prepared by the Commonwealth Foundation, www.CommonwealthFoundation.org (November 2009)

TotalAverageHomeowner/HouseholdIncreaseCumulativepropertyandstatetaxes,200910to201213

$1,360

Perhomeowneraverage,200910to2001213 Per householdaverage,200910to2001213

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