News
State Aid Unit Value History: 1985 – 2024
The 2024 State Aid Unit Value is $6,291.5553. That is an 8% increase from last year’s value of $5,827.8883. Download a chart of the complete state aid unit value history back to 1985.
SB 464 signed into law (Act 49 of 2024)
Senate Bill 464 is Signed into Law as Act 49 on July 8, 2024 – This law permits the governing body of municipalities and regional police departments across the state (other than the City of Philadelphia) to amend their police pension plan to allow officers who are vested in their current plan the option to purchase prior part-time or full-time police service to be credited for pension service purposes.
A previous version of the bill would have made it mandatory for police pension plans to be amended to allow officers to purchase prior service. But the final amended version that was passed made it an optional provision.
You can read more about it here.
Mockenhaupt / Benegration Spin-Off Announcement
As of January 1, 2024, Mockenhaupt completed the spin-off of Benegration. Mockenhaupt is focused exclusively on retirement actuarial and consulting services for municipalities. Benegration will focus on third-party administration, technology, data warehousing and analytics, vendor management and oversight, and healthcare claims audits. Benegration also serves as the third-party administrator of the MBS Trust.
Pension Reminder Calendar
This calendar provides reminders for important pension plan filing deadlines and administrative tasks for local governments. Download a copy of the calendar here.
Messages from Mockenhaupt
Welcome to Messages from Mockenhaupt! You can access the latest news from our Retirement Services team as well as past editions for the year. Each communication also provides a listing of upcoming conferences and speaking engagements.
- September 2023: This third edition of 2023 provides the recently released 2023 State Aid Unit Value, client education opportunities, and reminders for Plan Declaration (for 1/1/2023 Act 205 Reporting) & 2024 MMO deadlines. Download here.
- June 2023: This second edition of 2023 provides proposed pension legislation, the recently released Status Report on Local Government Pension Plans, and pension considerations during police department regionalization. Download here.
- March 2023: This first edition of 2023 provides reminders, a legislative update, and an administrative reference guide for plan administration. Download here.
Stay tuned for other important news from the Mockenhaupt team throughout the year.