Ortitay Pleased House Acts on Pensions
HARRISBURG — Rep. Jason Ortitay (R-Washington/Allegheny) issued the following statement in response to the House passing pension reform legislation:
“Overall, I’m happy we’re finally enacting meaningful pension reform. This serves as a good first step in the process and will help lessen the tax burden for future generations to come. But make no mistake about it: We need to find a way to pay down our pension liability. Pension reform is not complete until we do that. I declined to enter the pension program when I was elected because I did not want to add to the problem.”
The pension reform legislation creates three new plans for state employees hired after Jan. 1, 2019, and school teachers hired after July 1, 2019. Two of the plans are hybrids that offer both defined benefit and defined contribution components depending upon what the employee contributes. The other plan is a defined benefit similar to a 401(k). In addition, all current state employees, teachers, legislators and judges will have the option to enter one of the new plans.
These changes will save more than $5 billion and could result in additional savings of up to $3 billion as a result of reduced costs and fees for investment management.
The 46th Legislative District includes Collier and South Fayette townships and Bridgeville, Heidelberg, McDonald and Oakdale boroughs in Allegheny County. It also encompasses Canton, Cecil, Mt. Pleasant, Robinson and Smith townships and Burgettstown, McDonald and Midway boroughs in Washington County.
Representative Jason Ortitay
46th Legislative District
Pennsylvania House of Representatives
Media Contact: Tracy Polovick
tpolovick@pahousegop.com
RepOrtitay.com /
Facebook.com/RepOrtitay