Pennsylvania Governor Tom Corbett recently aligned with State Representative Mike Tobash and other legislators who have developed a new way to administer public employee pensions in an effort to save taxpayer money.
However, a report from left-leaning Keystone Research Center economist and executive director Stephen Herzenberg says,
"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."
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.
Herzenberg and Rep. Tobash both discussed the new approach and how best to tackle the state pension crisis.