Pennsylvania’s pensions are the 10th worst funded in America and the unfunded liabilities exceed $16,500 for every man, woman and child in the Commonwealth.
Pennsylvania lawmakers are working on comprehensive pension reforms through Senate Bill 1, to address those daunting challenges and establish Pennsylvania as one of the brightest turnaround stories among the states.
This is not about politics. It’s not about Democrats or Republicans, or whether you are on the political left or right.
Pennsylvania’s public pension system needs structural changes in order to honor promises to public sector retirees while protecting Pennyslvania’s hardworking taxpayers.
Senate Bill 1 will help Pennsylvania keep its promises to employees and retirees alike, while opening the door for further improvements.
The measure would provide workers with several retirement options for employees of all generations and personal preferences, including defined benefit/contribution hybrids and a 401k-style plan. This type of model has been successfully implanted in Rhode Island, Tennessee, Virginia and Washington.
The time for reform is now. Tell your Pennsylvania lawmaker to support Senate Bill 1 for pension reforms!