shall be to encourage and facilitate the education of its membership in all matters related to their duties as fiduciaries overseeing the assets of the pension funds with which they have been entrusted.  It will be PAPERS' primary purpose to conduct an annual educational forum that provides the basis for improved financial and operational performance of the public employee retirement systems in the State. PAPERS will function as a central resource for educational purposes and act as a networking agent for all public plan staff and board members.

Public pension plans, providing financial security for millions of public sector workers in their retirement, are facing a complex landscape of challenges in the years to come.

• Aging populations: Increasing life expectancy and declining birth rates mean more retirees and fewer working-age contributors, putting strain on plan finances.
• Investment volatility: Lower investment returns than predicted can leave funding gaps and necessitate higher contributions.
• Political and economic uncertainty: Changes in government policies, economic downturns, and global events can impact plan finances and make long-term planning difficult.
• Unfunded liabilities: Some plans have significant unfunded liabilities, meaning promised benefits exceed available assets. This can require significant additional contributions or benefit adjustments.
• Generational inequities: Younger generations may feel they are contributing more to a system that will benefit an older generation, leading to potential resentment and pressure for reform.
• Inefficient administration: Some plan structures may be complex and inefficient, leading to higher costs and administrative burdens.

PAPERS’ members move beyond the challenges of public plans to view potential opportunities. We encourage conversations exploring alternative investment options and risk-management strategies that can improve financial stability; we discuss changes to contribution rates, benefit structures, and strategies to help ensure long-term sustainability.  By sharing best practices with colleagues, engaging in conversation with stakeholders and policy makers and having open and transparent discussions about challenges together we can successfully navigate the future of public pension plans.

Karen Deklinski
PAPERS Executive Director

From the Desk of the PAPERS Board President

Happy 2024!!!    I hope each and everyone had a happy and healthy Holiday season.
As plan trustees each year brings new challenges as the world of pensions is an ever-changing process with new rules and regulations either passed or in process on the horizon.

Accordingly, it is more important than ever that we keep ourselves up to date.   That is the mission of PAPERS Trustee Education!   Our Annual Spring Forum and Fall Workshop, planned by our Educational Committee, provide excellent sessions by informed speakers on helping us become better informed Plan Trustees.   And there is our new PA Pension Plan Trustee Certification Plan in conjunction with Penn State that provides further information on being a well rounded and informed Plan Trustee. Give a look and see how you can become a Certified PA Public Retirement Plan Professional.

Our mission is Trustee Education….if you know personnel in other Plans that are not currently members, why not ask them to check out PAPERS and see what we have to offer them as Trustees or forward their names to myself or Karen and we will follow up with them.    With your help we will continue to grow and continue or mission of providing excellent Trustee Education.

Mark your calendars for the Spring and Fall conference dates.   I look forward to seeing you at either the Spring or Fall Conference or both.
Have a great and healthy year until we meet in May at the Spring Conference.

Bob Mettley
PAPERS Board President  

Just below you'll find a link to the latest edition of the PAPERS newsletter (Winter 2024). Our goal is to provide interesting reading and a variety of points of interest to spark conversations in the realm of public pensions.   Thank you to those who have contributed articles and suggestions to this edition. 

Certified PA Public Retirement Plan Professional

Click here for more information.