Comment on APNewsBreak: GOP seeks end to traditional pension plans

APNewsBreak: GOP seeks end to traditional pension plans

(AP) — Republican senators want to end Pennsylvania's debt-ridden pension plans for state and public school employees and require concessions from many current workers to provide immediate taxpayer savings, according to details provided Wednesday to The Associated Press. The plan is the Senate Republican majority's top priority this legislative session and is designed to whittle down the estimated $50 billion pension debt that Republicans call Pennsylvania state government's biggest fiscal problem. Winning concessions from current employees would theoretically provide immediate savings to the state government and school districts in the face of rising annual pension fund payments required by a 2010 law designed to account for years of policymakers delaying obligations.

 

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