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

Artists’ Market invites community to holiday reception and sale
— The public is invited to share the joy of the holiday season at a reception to be held at the Artists’ Market Community...
Read more »
Image

Hear the Christmas cantata: 'Do You Hear What I Hear?'
— The Delaware Valley Choral Society will perform a Christmas cantata titled “Do You Hear What I Hear?” containing...
Read more »
Image

Guitarist Michael Harrison stokes the star-maker machinery
By Anya Tikka
— After a stint teaching at the School of Rock in Pittsburgh, Michael Harrison has moved on to creating original...

Read more »
Image

Ellington's Nutcracker Suite to be performed at ESU
— East Stroudsburg...
Read more »
Image

VIDEOS



E-NEWSLETTER

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.

* indicates required
Community Newspapers


MOST READ

Local News
Milford police chief is demoted
  • Nov 20, 2017

MOST COMMENTED



Weather in Milford, PA