A Stable Future for Pennsylvania: A Plan for Pension Reform
Pennsylvania finds itself at a fiscal crossroads. With each passing year, state government is required to pay more and more in state pension contributions, from 1.1 billion last year to 2.3 billion in 2013. By 2016, Pennsylvania’s pension payment will balloon to approximately $4.3 billion.
With every increased payment, there is less money for vital state programs. Pennsylvania has to take action now to address this growing crisis. By reforming our pension system, we can invest more state dollars where they are needed most, in education and human services. These reforms also safeguard the entire system for next generation of teachers and state employees.
Governor Corbett’s plan takes a common sense approach to ensure the long term strength of the system, while guaranteeing there are no changes to benefits for retirees and no changes to benefits accrued by current employees through the effective date of the plan.
Find out more about the Governor’s plan here, or to learn more about the Governor's record click here