Efforts To Avoid Pa. Pension Crisis Run Into Rough Waters
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HARRISBURG (CBS) - A bill that would address a looming spike in taxpayer contributions to Pennsylvania state pension funds has passed the Senate, but its future in the House is murky.
Lehigh Valley Republican Pat Browne spearheaded efforts to craft the state Senate’s version of legislation to address an upcoming multi-billion dollar increase in the state’s pension obligations:
“A reformation of the current approach will stand as an effective, lasting reform and will provide our public servants and taxpayers retirement and financial security with no additional debt and at a cost that is competitive with any comparable alternative plan design.”
But the Senate also inserted language that would create a new state agency that will make independent financial projections — House leaders insist that is a separate issue. The inclusion of which, they claim, makes the measure passed by the Senate in violation of the state constitution.
Reported by Tony Romeo, KYW Newsradio