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Pennsylvania Pension-Axing Bill Advances

May 14, 2015
By LaborPress

The Pennsylvania Senate's Finance Committee voted 6-4 May 11 along party lines to approve a bill that would eliminate pensions for future state workers and public-school teachers, moving them into a 401(k)-style plan. Senate Majority Leader Jake Corman said he plans to bring the bill to the floor this week, and he expects that the 30-member Republican caucus will vote solidly enough to pass it.

Democrats argue that the bill is based on false premises and is being rushed through before they have time to analyze it. The bill would also increase deductions for workers who want to retire with the higher benefits the state enacted in 2001. Read more

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