On February 5th, the executive director of PERA spoke before state lawmakers. Despite the reform efforts that defined the 2018 session, the poor investment performance of 2018 may be enough to trigger the automatic adjustments that would draw in more money to PERA from an increase in employer/taxpayer contributions, members, and directly from the general fund. While the numbers from the audit are not finalized, the hope is just that the automatic adjustments will be enough to maintain the desired timeframe to pay off the unfunded liability.
To learn more about PERA and the discussion surrounding its financial health, you can find our 2018 study here.