Think tank criticizes Corbett pension reform plan


Make text smaller Make text larger



Photos




HARRISBURG — A labor union-affiliated think tank is attacking Gov. Tom Corbett's latest plan for reining in Pennsylvania's public employee pension costs.

Stephen Herzenberg, director of the Keystone Research Center, said Monday the proposal sponsored by Rep. Mike Tobash and backed by the governor would force draconian cuts in pension benefits for future school and state employees.

Herzenberg says the “hybrid" plan, which would join a limited traditional pension with a 401(k)-style defined contribution plan, also would save only about $3 billion in today's dollars.

Actuaries for the Pennsylvania Employee Retirement Commission, which cleared the bill for legislative action last week, say the changes would shift considerable risk onto newly hired employees and save between $12 billion and $14 billion over 30 years.


Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Image Breathing new life into a 66-year-old art show
By Anya Tikka
— More than 100 visitors came out to admire the paintings, jewelry, sculpture, ceramics, and more at the annual...
Image Brain disease seen in most football players in large report
By LINDSEY TANNER
AP Medical Writer
Research on 202 former football players found evidence of brain disease in nearly all of them, from athletes in the NFL, college and...
Image Nutrition program for women and children expands income guidelines
Maternal and Family Health Services announced that the Women, Infants and Children (WIC) Nutrition Program has expanded its income guidelines, allowing more families to...
Image Day of Caring helps those who help others
— On the annual United Way Day of Caring, volunteers travel to local non-profit human service agencies to help clean up, clear out,...

VIDEOS



Sign up to get our newsletter emailed to you every week!

  • Enter your email address in the box below.
  • Select the newsletters you would like to subscribe to.
  • Click the 'SUBSCRIBE' button.



MOST COMMENTED



Click on the ad above to print your coupon!
Weather in Milford, PA