Bloom Votes to Reform PA’s Public Pension Systems
HARRISBURG – Rep. Stephen Bloom (R-Cumberland) issued the following statement after the House voted to reform Pennsylvania’s two public pension systems:
“I am encouraged by the bipartisan progress made toward reforming Pennsylvania’s broken public pension systems. This doesn’t solve all the problems, but it’s an important first step toward fixing our current system, which is eroding the quality of our education system and the wallets of our hard-working taxpayers.
“While I continue to push for a more comprehensive solution to this crisis, I was pleased to vote for the most significant pension reform in decades. I refused the legislative pension to which I would have been entitled so I could always be a zealous advocate for pension reform.”
Senate Bill 1 would establish a state 401(k)-style retirement plan for future state and school employees, rather than the current defined benefit plan. Current employees will have the opportunity to opt in to a new plan or continue in their current plan. No current employee or retiree would see any changes to his or her plan. The bill now moves to the governor’s desk to be signed into law.
Representative Stephen Bloom
199th District
Pennsylvania House of Representatives
Media Contact: Abbey Haslam
ahaslam@pahousegop.com
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