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Steve Perry
Kane, PA
Mar 20, 2013

Representive Benninghoff -

I would like to commend you on your informative interview with Greg Petersen on March 18, 2013.  However, I would like to clarify a couple of your comments:

I believe you indicated that school districts had years in which they did not have to contribute money to PSERS.  That is totally inaccruate.  The combined contribution rate decreased from 20.04% in 1985-86 to 1.09% in 2001-02.  At no time during that period were school districts exempt from paying into PSERS.  And as you know, and as addressed so well in your interview, the rate continues to rise to its current projected rate of 16.93% for 2013-14.  Contribution history rates can be obtained from the PSERS website.

A second comment that you made was that “school districts saw this coming and didn’t put money aside”.  I would like to provide you with some additional background in regard to that comment.  In December of 2000, following the announcement of the 2001-02 contribution rate by the PSERS Board, as Business Manager for the Kane Area School District, I proposed to the Board of Directors that we establish the Retirement Rate Stabilization Fund.  In January 2001, the Board approved my request to establish this designation.  Since the 2000-01 fiscal year, the Kane Area School District “saw this coming” and has made periodic transfers to that fund in an effort to “put money aside”.  Currently, the District has a committed balance of over 40% of its current payroll designated for future retirement rate increases.  Dr. David Davare, former Director of Research at PSBA, would be able to confirm the aforementioned actions to be accurate.

Please note my intention is to only provide clarification to your comments.  Once again, I would like to thank you for your informative interview with Mr. Petersen.

If you have questions or would like additional information, please email me at

Thank you for your continued commitment to the Commonwealth of PA,


Steve Perry

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