Pension Reform Coming to PA (Finally)!
State Senator Dominic Pileggi tweeted out that he and three other state senators would be introducing pension reform in Pennsylvania. While we still must read the actual bill before we take a stand, we are THRILLED someone in a leadership position is finally offering up a solution.
Here’s Senator Pileggi’s tweet announcing his plan for pension reform:
You can head to his website to read the full text of what he’s proposing.
Eric Boehm at PA Independent wrote an article on it.
And here’s our stand:
“We commend Senators Pileggi, Corman, Browne and Brubaker for tackling the difficult issue of pension reform head on,” said Jennifer Stefano, Americans for Prosperity’s Pennsylvania State Director. “We look forward to reviewing the legislation and supporting common sense reforms that move Pennsylvania forward towards fiscal stability. It’s time state employees’ benefits and salaries mirror those from the private sector.”
Stefano continued: “The vast majority of working Pennsylvanians contribute to what is known as a ‘defined contribution plan’ like a 401 (k) or 403 (b) plan. Employees in the private sector are responsible for saving for their own retirement and making important investment choices. For private sector employees, there is no guarantee of a fully funded pension, so there is no reason those same private sector employees must bear the burden of guaranteeing a full funded pension for state workers.”