Issue Position: Dealing with the Public Pension Problem

Issue Position

Pennsylvania continues to face a huge and looming financial problem -- the public pension liability. Currently, the projected public pension liability is approximately $75 billion. All levels of the system - including pensions for legislators - need reform. The near-term impact on our school districts is addressing the massive annual increases that are required to pay for the obligation. Thankfully, over the last four years, annual increases of record-level funding have been achieved by the General Assembly. In 2017, the General Assembly achieved a heavily negotiated reform bill which began the process of changing the pension system for new hires, in an attempt to bring the pension costs in line. Though the crushing tax bill is still looming, and though more needs to be done, this reform bill was an important step in the right direction.

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