Legislation that would remove questionable participants from Pennsylvania’s taxpayer-funded state pension systems is on the move in the General Assembly, according to state Reps. Kristin Phillips-Hill (R-York) and Will Tallman (R-Adams/Cumberland).
The IFO late Tuesday afternoon announced it has completed an actuarial note for a bill seeking to pay down the unfunded liability for the state’s two public pension systems faster than is currently planned by state law.
As a long-time public servant on the House Appropriations Committee, I have worked to remind legislators about the unshakeable truth behind the numbers related to proposed policy changes. But as the pension reform conversation for teachers and state employees is once again moving towards a bad result, it is very important to share our heightened […]
In the blink of an eye, the figure displayed on the pension debt clock in the Capitol East Wing Rotunda dropped nearly $704 million on Monday morning.
Early Wednesday evening, the board of the State Employees’ Retirement System (SERS) announced a decision that you would think should shelve much of the pension talk that’s been going on in the state Capitol lately.
The screwy world of pension politics was on full display last week. Gov. Tom Wolf and state Treasurer Joe Torsella wrote to the boards of the state’s two public pension funds suggesting they reduce investment costs by moving away from Wall Street money managers, putting more of the system’s assets into passive investments.