Pennsylvania HB1304 mandates annual stress tests for the state's pension system, requiring reports to the Governor, General Assembly, and Independent.

Pennsylvania HB1304 amends the state's statutes to require the board to conduct an annual stress test of the pension system. The stress test must include scenario analysis, simulation analysis, and sensitivity analysis. The board must submit the results to the Governor, the General Assembly, and the Independent Fiscal Office by October 1 each year. The Independent Fiscal Office must produce a report summarizing the stress test results by June 1 each year, including a calculation of the ratio of projected employer pension contributions to projected State revenues.

Pennsylvania HB1304 mandates annual stress tests for the state's pension system, requiring reports to the Governor, General Assembly, and Independent.

Pennsylvania HB1304 amends the state's statutes to require the board to conduct an annual stress test of the pension system. The stress test must include scenario analysis, simulation analysis, and sensitivity analysis. The board must submit the results to the Governor, the General Assembly, and the Independent Fiscal Office by October 1 each year. The Independent Fiscal Office must produce a report summarizing the stress test results by June 1 each year, including a calculation of the ratio of projected employer pension contributions to projected State revenues.