Category Archives: Pension Reform

“[S]tate employees paid their fair share throughout the past decade. They played by the rules; paid their pension bill; and for their fidelity to the Commonwealth, they are now being demonized for having a pension.”

Pennsylvania needs to end the credit-card approach to pension reform: John Yudichak

By PennLive Op-Ed
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.

YUDICHAK HEADSHOT ART.jpgView full sizeState 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

Pennsylvania pension reform takes a blow…

http://www.pennlive.com/…/pension_reform_takes_a_blow_…

The Patriot‑News

Jul 1, 2014 – In what could be a key test vote, the Pennsylvania House of Representatives has quashed debate on a major pension reform proposal.

Gov. Tom Corbett will not go 4 for 4 on his budget wishlist

Gov. Tom Corbett will not go 4 for 4 on his budget wishlist

By Jan Murphy | jmurphy@pennlive.com

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.

[Snip]

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.

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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