The City of Philadelphia has made significant progress toward fully funding its pension obligations, with reforms and steady contributions raising its funded ratio from 45 percent in FY16 to a projected 90 percent by FY30. The report explains how continuing on this path enhances credit ratings, lowers long-term costs, and strengthens the City’s fiscal stability,…

Philadelphia’s H.O.M.E. Initiative plans to invest $800 million over four years in housing, with $161 million expected to be spent in the first year. This pace is significantly faster than previous initiatives such as Rebuild and the Neighborhood Preservation Initiative. The report outlines how factors like program design, administrative capacity, and stakeholder engagement can shape…

The Update on the City of Philadelphia’s DROP Program evaluates the financial impact of the Deferred Retirement Option Plan (DROP) since its inception, highlighting a total estimated cost of $277.2 million and its effect on employee retirement ages. The report finds that DROP has increased the average retirement age by 1.7 years but continues to impose significant costs on the pension system.

Philadelphia’s Pension System: Reducing Risk and Achieving Fiscal Stability’ assesses the City’s pension challenges, finding that costs as a percentage of payroll have risen from 17.3% in FY91 to 39.2% in FY15, placing significant pressure on the budget. The report recommends mandatory enrollment in a hybrid pension plan for new hires, increased employee contributions, and additional dedicated funding sources.