Senate passes pension oversight bill

HARRISBURG — The state auditor general would take over evaluating Scranton’s distressed municipal pension plans to determine their fiscal soundness under a bill passed unanimously Tuesday by the Senate.

The measure headed to the House splits up the oversight duties of the state Public Employee Retirement Commission.

Under the bill sponsored by Sen. John Blake, D-Archbald, the auditor general will perform the actuarial calculations for more than 3,000 municipal pension funds.

These calculations help determine how more than $250 million in annual pension payments is distributed to municipalities.

The state Independent Fiscal Office would take over the job of providing an actuarial analysis of pension bills.