March 12: State Pensions

By on Mar 12, 2013 with Comments 1

Pennsylvania currently faces $41 Billion in unfunded state pension liability.  Gov. Corbett has proposed addressing this issue, in part, by moving future employees from a defined benefit plan, to a defined contribution (401K- style) plan and by changing the formula for current employees’ future benefits.  PCN had Richard Rowland, Executive Director of the PA Association of School Retirees, and Stuart Knade, Executive Director of the PA School Boards Association, on hand to discuss the potential implications of changing the state pension system.

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  • Tomkirol

    July 3, 2002 document

    House Resolution 266 – Analysis of Legal Issues Relating to Defined Contribution Plans

    This report was done by the chief council to Gov. Ridge.

    this report concludes that changing to a defined contribution plan would not be the best decision. i can send you the report if you like.