Pennsylvania’s multi-billion dollar public and municipal pension issues have long been cited by lawmakers as an obstacle to economic growth. To address pensions, Senator Judy Schwank (D-Berks) has introduced a bill that would create the Public Pensions Review Commission.
“To examine the current systems, and to recommend statutory or regulatory changes needed to achieve and maintain a sound, stable public pension structure for both the state and for local governments,” said Schwank.
The 25-member group would be authorized to conduct hearings and receive appropriate information and analysis. Some of the questions to be addressed, said Schwank, are what does Pennsylvania’s future workforce like? How can the state attract and retain talent, and how can the state achieve retirement security?