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Purchase of United States Government Service PSERs Psers State Pa Form

Purchase of United States Government Service PSERs Psers State Pa Form

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thank you Mr chairman and welcome to all of you good to have you join us I want to go back to um gain a little understanding of the unfunded liability if we can Mr Durbin you had shared with us that your three-year investment earnings average was 8.8 percent and I believe you just mentioned 12 in the most recent period which is commendable that's very strong I'm looking at your funded percentage which fell from 1231 11 and it was at 65.3 to 12 31 12 58 percent so appreciating the comment you just made about it improving a bit here more recently and I gather that's largely due to the callers that had would put been put in place and investment earnings that's a pretty dramatic decline in that period when looking at you you would have had decent earnings on investment can you help me to understand the Gap there uh that's that's a really good question the reason why we're seeing that ratio change this year so much is we're rol

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