An Act amending Titles 24 (Education) and 71 (State Government) of the Pennsylvania Consolidated Statutes, in membership, contributions and benefits, providing for supplemental annuity commencing 2025; and, in benefits, providing for supplemental annuity commencing 2025.

Senate Bill 564 proposes to provide an additional monthly supplemental annuity to eligible retired public school employees and retired state government employees in Pennsylvania. For retired public school employees, these new payments would begin after July 1, 2025, while for retired state employees, they would commence after January 1, 2025. The amount of this supplement will be a percentage of their current monthly annuity, ranging from 15% to 24.5% based on their retirement date, with older retirees receiving a higher percentage. The bill specifies that eligible recipients must have retired before July 2, 2001, and not have certain service credits. The increased costs for these benefits will be funded by the Commonwealth over a ten-year period.