Pa. School Employees' Retirement System Board Votes To Raise Rates For 94,000 School Employees

By: KDKA-TV News Staff

HARRISBURG (KDKA) -- The Pennsylvania School Employees' Retirement System Board has voted to raise contribution rates.

Those rates will be for tens of thousands of public school employees.

This all comes after a mistake in a calculation of the fund's long-term investment performance was revealed last month.

The board voted to raise pension contribution rates starting next July 1 for about 94,000 public school employees all hired in 2011 or later.