Pension reform http://wesa.fm en Corbett Not Letting Up On Public Pension Overhaul http://wesa.fm/post/corbett-not-letting-public-pension-overhaul <p>Gov. Tom Corbett is not giving up the ghost of a public pension overhaul proposal — saying he may still call a special session of the state Legislature to address the issue.<br /><br />The measure still does not have enough support in the House and Senate, Corbett said at a roundtable discussion in Hummelstown Friday.<br /><br />The governor has been making daily statements about the plan, which would reduce retirement benefits of future public workers.<br /><br />Supporters say the changes would reign in long-term costs of public pensions.<br /> Mon, 21 Jul 2014 07:30:00 +0000 Mary Wilson 32850 at http://wesa.fm Corbett Touts Tobash's Pension Reform Plan in Shaler Township http://wesa.fm/post/corbett-touts-tobashs-pension-reform-plan-shaler-township <p>Less than a week after Pennsylvania Gov. Tom Corbett ended the <a href="http://wesa.fm/post/explaining-governor-corbetts-budget-battle">budget standoff</a> with the state Legislature, he’s setting a new deadline for <a href="http://wesa.fm/post/corbett-withholds-signature-budget-pension-overhaul">pension reform</a>: election season.</p><p>Corbett was in Shaler Township Monday afternoon pushing an overhaul of the public pension system, which he said is necessary to help struggling school districts and stem the wave of rising property taxes.</p> Mon, 14 Jul 2014 21:34:04 +0000 Liz Reid 32616 at http://wesa.fm Corbett Touts Tobash's Pension Reform Plan in Shaler Township A Hybrid Approach to Pennsylvania Pension Reform http://wesa.fm/post/hybrid-approach-pennsylvania-pension-reform <p><span style="line-height: 1.5;">Pennsylvania Governor Tom Corbett recently aligned with State Representative</span><span style="line-height: 1.5;">&nbsp;Mike </span>Tobash<span style="line-height: 1.5;"> and other legislators who have developed <a href="http://www.reptobash.com/Display/SiteFiles/139/OtherDocuments/PensionPlan_06_14.pdf">a new way to administer public employee pensions</a> in an effort to save taxpayer money. </span></p><p><span style="line-height: 1.5;">However, a </span><a href="http://keystoneresearch.org/publications/research/analysis-tobash-proposal-moving-backwards-pension-reform" style="line-height: 1.5;">report </a><span style="line-height: 1.5;">from left-leaning Keystone Research Center economist and executive director Stephen </span>Herzenberg<span style="line-height: 1.5;"> says, </span></p><blockquote><p><strong><span style="line-height: 1.5;">"The proposed plan would make little progress reducing the state’s pension debt, while forcing Draconian benefit cuts on future teachers, cafeteria workers, nurses, and state employees." </span></strong></p></blockquote><p>The Corbett-Tobash proposal would replace Pennsylvania’s largest pension plan with this new hybrid system for all new state and school employees entering the workforce.</p><p>Herzenberg<span style="line-height: 1.5;"> and Rep. </span>Tobash<span style="line-height: 1.5;"> both discussed the new approach and how best to tackle the state pension crisis. Thu, 19 Jun 2014 20:38:28 +0000 Essential Pittsburgh 31220 at http://wesa.fm A Hybrid Approach to Pennsylvania Pension Reform PA House Leader Leaves Door Open to Defer Pension Payments http://wesa.fm/post/pa-house-leader-leaves-door-open-defer-pension-payments <p>The Pennsylvania House Majority Leader isn’t ruling out a move to trim the state’s scheduled payments toward its pension debt.</p><p>“There’s not an appetite to reduce the collars (scheduled payments) in the House,” said Representative Mike Turzai (R-Allegheny), as he stressed the need for an overhaul to pension benefits for future employees.</p> Thu, 05 Jun 2014 14:00:46 +0000 Mary Wilson 30425 at http://wesa.fm Pension Plan Reform for Police and Fire Fighters http://wesa.fm/post/pension-plan-reform-police-and-fire-fighters <p>Pension Plan Reform proposed by Rep. Seth Grove (R-York) could save municipalities from the $6 billion in debt, according to supporters.</p><p>The reform would only be for police and fire fighters that are newly hired. &nbsp;</p><p>“We’re trying to be proactive. We’re trying to save and protect those pensions for current employees and current retirees by trying to restructure our pension system, make it sustainable from now and until the future,” said Grove.</p> Sun, 20 Apr 2014 22:36:43 +0000 Jess Lasky 27296 at http://wesa.fm Peduto and Auditor General Lobby for Statewide Pension Reform http://wesa.fm/post/peduto-and-auditor-general-lobby-statewide-pension-reform <p>State Auditor General Eugene Depasquale joined Pittsburgh Mayor Bill Peduto Wednesday to announce recommended reforms addressing the $6.7 billion of underfunded municipal pension liabilities in Pennsylvania.</p><p>According to Depasquale, 47 percent of municipalities in Pennsylvania are considered distressed when it comes to their ability to fund employee pensions. As a solution to this statewide concern, Depasquale issued 13 recommendations for state legislators to enact.</p> Wed, 26 Feb 2014 21:12:00 +0000 Haldan Kirsch 25049 at http://wesa.fm Scarnati Calls for Action on Public Pension Overhaul http://wesa.fm/post/scarnati-calls-action-public-pension-overhaul <p>The state Senate president pro tem is beginning his eighth year with a call to action for some kind of public pension system overhaul.&nbsp; &nbsp;<br /><br />Sen. Joe Scarnati, a Republican of Jefferson County, has been re-elected unanimously to his position. &nbsp;<br /><br />In his first address to the Senate this year, he said the budget outlook demands lawmakers grapple with rising public pension costs.<br /><br />"The choices we need to make will be many but the largest cost and growth in next year’s budget will be pension cost and we need to make choices," Scarnati said.<br /> Tue, 07 Jan 2014 21:20:06 +0000 Mary Wilson 22486 at http://wesa.fm Controller Lamb: Pension Board Vote Was 'The Right Decision for Pittsburgh' http://wesa.fm/post/controller-lamb-pension-board-vote-was-right-decision-pittsburgh <p>Pittsburgh City Controller Michael Lamb said Thursday’s board vote to lower the pension fund’s projected rate of return was good financially for the city.</p><p>The fund’s assumed rate of return was lowered from 8 percent to 7.5 percent after a 5-2 vote led by Mayor Luke Ravenstahl's allies. Supporters of Mayor-elect Bill Peduto then accused Ravenstahl of political maneuvering.</p><p>Ravenstahl was opposed to lowering the rate during most of his tenure.</p> Fri, 13 Dec 2013 20:55:50 +0000 Tim Camerato 21348 at http://wesa.fm Lawmaker Presents Alternative Plan for State's Pension Debt http://wesa.fm/post/lawmaker-presents-alternative-plan-states-pension-debt <p>A state House Republican is presenting a plan to deal with the state&rsquo;s growing public pension debt.<br /><br />The proposal by Cumberland County Representative Glen Grell differs significantly from ones offered by the Corbett administration and Republicans in the Legislature by making potential benefit reductions optional for current employees.<br />&nbsp;&nbsp; &nbsp;<br />It relies heavily on borrowing to bring down pension payments scheduled to eat away at state and school district budgets, a move viewed with skepticism by the Corbett administration. &nbsp;<br /> Mon, 30 Sep 2013 20:33:13 +0000 Mary Wilson 17394 at http://wesa.fm State Government Reform Activists Update Research on 2005 Pay Raise http://wesa.fm/post/state-government-reform-activists-update-research-2005-pay-raise <p>State government reform activists are pointing to their annual update on the costs of Legislature-approved increases to their benefits as an illustration of why pension reform efforts are doomed.<br><br>Eric Epstein, founder of the group Rock the Capital, said the late-night pay raise lawmakers approved for themselves in 2005 has inspired the most ire among voters, but it's not the most costly thing lawmakers have done to boost their own benefits in the past 20 years.<br> Mon, 15 Jul 2013 07:30:00 +0000 Mary Wilson 12935 at http://wesa.fm State Budget Signed On Time, But Deadline Moves for Rest of Corbett's Agenda http://wesa.fm/post/state-budget-signed-time-deadline-moves-rest-corbetts-agenda <p>Gov. Tom Corbett has signed an on-time budget, but without any victories on his other top three legislative priorities.<br><br>Liquor privatization, transportation funding and pension overhaul will have to wait until the fall for further legislative action.<br><br>A transportation funding plan got stuck in the House. A bid to change how alcohol is sold in Pennsylvania stalled in the Senate. Pension overhaul is a plan neither chamber is ready to advance.<br> Mon, 01 Jul 2013 11:10:01 +0000 Mary Wilson 12367 at http://wesa.fm State Budget Signed On Time, But Deadline Moves for Rest of Corbett's Agenda Crunch Time for Corbett's Agenda, and State Budget http://wesa.fm/post/crunch-time-corbetts-agenda-and-state-budget <p>The state budget deadline is days away, but the spending plan is practically an afterthought to lawmakers as Gov. Tom Corbett's other priorities remain unresolved.<br><br>A scaled-back pension overhaul proposal is advancing in the Senate and still needs House approval. But it's not the subject of intense disagreement between the chambers, as Senate GOP spokesman Erik Arneson notes is true of other items on the governor's to-do list, like transportation funding and liquor privatization.<br> Mon, 24 Jun 2013 10:56:45 +0000 Mary Wilson 11978 at http://wesa.fm Crunch Time for Corbett's Agenda, and State Budget Senate Panel Moves Scaled-Back Pension Overhaul http://wesa.fm/post/senate-panel-moves-scaled-back-pension-overhaul <p>A state Senate committee has approved a scaled-down version of the governor's pension overhaul plan to address the commonwealth's pension debt.<br><br>The bill was re-written to include just one of the three prongs of Gov. Tom Corbett's proposal — one that has been said to be far more palatable to legislators. The measure would enroll most future state and school employees into a 401(k)-style plan, instead of the traditional defined-benefit plan that locks in payouts according to a formula known in advance.<br> Wed, 19 Jun 2013 20:36:20 +0000 Mary Wilson 11755 at http://wesa.fm Union Rallies Against Corbett's Budget, Pension Plans http://wesa.fm/post/union-rallies-against-corbetts-budget-pension-plans <p>An estimated 350 state and public sector workers rallied at the state Capitol Monday to call for more funding for education and human services.<br><br>Members of the Service Employees International Union also urged Gov. Tom Corbett to drop his calls for pension overhaul, which would include reducing the future benefits of current state and public school employees.<br> Tue, 11 Jun 2013 10:54:36 +0000 Mary Wilson 11186 at http://wesa.fm State Senate Pension Hearing Offers Few Answers http://wesa.fm/post/state-senate-pension-hearing-offers-few-answers <p>State Senate lawmakers are beginning the public vetting of a three-part proposal from the governor's office to deal with the state's multi-billion dollar pension debt.<br><br>Months of debate leading up to the hearing have only made the groups on either side of the issue seem as entrenched as ever.<br><br>Gerry Oleksiak, vice president of the Pennsylvania State Education Association, reiterated the unions' position that the governor's plan to reduce the future benefits of current employees is an unconstitutional breach of contract.<br> Thu, 30 May 2013 10:21:02 +0000 Mary Wilson 10462 at http://wesa.fm The Pennsylvania Pension Crisis: How Did We Get Here? http://wesa.fm/post/pennsylvania-pension-crisis-how-did-we-get-here <p></p><p>Gov. Tom Corbett and his allies in the state Legislature have introduced controversial legislation to reform the pension systems for state employees and public school teachers.</p><p>The sponsors say the bills make necessary cuts to reduce the state’s massive liability problem. Unions argue that the measures are illegal because they cut current workers’ future benefits. Thu, 16 May 2013 23:48:28 +0000 Heather McClain 9643 at http://wesa.fm The Pennsylvania Pension Crisis: How Did We Get Here? The Makings of Pennsylvania's Pension Funding Crisis http://wesa.fm/post/makings-pennsylvanias-pension-funding-crisis <p>Gov. Tom Corbett and his allies in the state Legislature have introduced controversial legislation to reform the pension systems for state employees and public school teachers.</p><p>The sponsors say the bills make necessary cuts to reduce the state’s massive liability problem. Unions argue that the measures are illegal because they cut current workers’ future benefits.</p><p>To get a handle on how Pennsylvania’s two public pensions ended up in their current funding crisis, one has to look more than a decade into the past.</p><p><strong>A Big Commitment </strong></p> Wed, 15 May 2013 10:16:42 +0000 Noah Brode 9554 at http://wesa.fm The Makings of Pennsylvania's Pension Funding Crisis Corbett Hesitant to Rank Legislative To-Do List http://wesa.fm/post/corbett-hesitant-rank-legislative-do-list <p>Gov. Tom Corbett is reluctant to pull any legislative issue from the very top of his crowded agenda.<br><br>But other legislative leaders appear more than happy to do it for him.<br><br>The governor has said he wants four things done before lawmakers leave for their summer recess: a budget, liquor privatization, a transportation funding package and an approved overhaul of the state’s two pension plans and the debt that comes with them. &nbsp;<br><br>Senate Majority Leader Dominic Pileggi said the pension issue, however, is looking too complex and controversial to tackle by July.<br> Fri, 10 May 2013 19:57:52 +0000 Mary Wilson & WESA Staff 9345 at http://wesa.fm Lawmaker Floats Idea of Outlawed Bond for State Pension Debt http://wesa.fm/post/lawmaker-floats-idea-outlawed-bond-state-pension-debt <p>One state lawmaker is raising the controversial idea of borrowing money to help put a dent in the state's $47 billion unfunded pension liability.<br><br>Rep. Glen Grell (R-Cumberland), who's been working on pension overhaul proposals, has suggested one way to pay down some of the state's pension debt would be to issue a pension obligation bond - not as a way to cover required state contributions to the two pension plans, but as a way to borrow money at a better rate and produce some savings.<br> Fri, 10 May 2013 10:14:41 +0000 Mary Wilson 9302 at http://wesa.fm Pension Systems Directors Discuss Underfunding Before State Appropriations Committee http://wesa.fm/post/pension-systems-directors-discuss-underfunding-state-appropriations-committee <p>The heads of the state’s two public pension systems are working to represent their members while delivering straight-talk about the size of the state’s pension debt to lawmakers.&nbsp;&nbsp;</p><p>The commonwealth and school districts now face spiking payments to the funds, scheduled as part of reforms known as Act&nbsp;120.</p> Mon, 04 Mar 2013 15:03:43 +0000 Mary Wilson 1948 at http://wesa.fm Chambers, Business Groups Call on Harrisburg to Enable Municipal Pension Reform http://wesa.fm/post/chambers-business-groups-call-harrisburg-enable-municipal-pension-reform <div class="field-item even"><p>The Coalition for Sustainable Communities (CSC) is calling on state lawmakers to include municipal pension reforms in upcoming&nbsp;deliberations.</p><p>“We have literally dozens and dozens of municipalities with very severe pension problems across Pennsylvania. These are pension problems that, without changes to pension laws, municipalities will never be able to pay off,” said Brian Jensen, executive director of the Pennsylvania Economy League of Greater Pittsburgh, and member of the CSC.</p> Tue, 26 Feb 2013 19:34:59 +0000 Deanna Garcia 1607 at http://wesa.fm