Pennsylvania needs to end the credit-card approach to pension reform: John Yudichak
on July 18, 2014 at 1:00 PM, updated July 18, 2014 at 1:06 PM
By John Yudichak
A $50 billion pension crisis does not happen overnight – and the current crisis involving Pennsylvania’s severely underfunded pension system is no different.
State Sen. John Yudichak, D-Luzerne
In 2001, the state pension funds were fully funded and the defined benefit system was a clear example of fiscal efficiency.
What happened? Continue reading
Gov. Tom Corbett will not go 4 for 4 on his budget wishlist
By Jan Murphy | firstname.lastname@example.org
updated June 29, 2013 at 11:50 AM / http://www.pennlive.com
Now that the countdown to the midnight Sunday deadline is being counted in hours, instead of days, it’s starting to become clear that Gov. Tom Corbett will not be going four-for-four on his wish list of big-ticket items. But what his final tally on achievements still be remains in question.
Pension reform: No movement in either chamber on legislation to move future state and school employees into a defined contribution plan, which at this point signals this is a no-go by June 30. However, many observers say they see it being revisited in the fall.
Pension Reform Update
On November 26, Governor Corbett’s Budget Office released a report about Pennsylvania’s statewide public pension systems, including SERS. Continue reading