Jun. 08, 2017
HARRISBURG – State Rep. Michael Corr (R-Montgomery)
today voted in Harrisburg in favor of a comprehensive public pension
reform bill approved by the state House that would reduce costs for
taxpayers, provide competitive retirement benefits for future state
workers and teachers, and secure the pension benefits of current public
workers and retirees.
“This plan would save Pennsylvania taxpayers billions of dollars while
ensuring the pension plans are able to meet the needs of teachers, state
workers and retirees,” Corr said.
Pennsylvania operates two public pension systems – one for state
workers, and the other for public school teachers and employees. The
systems currently are $62.7 billion in debt.
The reform bill would help strengthen the two public pension systems to
ensure they are able to provide benefits already earned by current
teachers, state workers and retirees. Their retirement benefits would
not be affected by the changes included in the bill.
Future state and school employees beginning in 2019 would be eligible
for different, competitive retirement benefits. The new retirement
plans available to future employees would reduce risks and costs for
taxpayers by offering them plans more in line with retirement benefits
provided to workers in the private sector.
“We can provide competitive retirement benefits for future workers while
reducing the burden on Pennsylvania taxpayers,” Corr said. “For
current state workers and teachers, when it comes to their pension
benefits, a promise made will be a promise kept.”
Current employees would be able to choose whether to remain in the
existing pension system or take advantage of one of the new retirement
plans.
State court decisions prevent the Legislature from altering pension
benefits already earned by state workers and school employees.
The Pew Charitable Trusts, an evidence-based and non-partisan
organization, said when describing the bill, “Our research indicates
that this would be one of the most – if not the most – comprehensive and
impactful reforms any state has implemented.”
The bill was previously approved by the state Senate and now heads to the governor’s desk to be signed into law.
Rep. Michael Corr
150th Legislative District
Pennsylvania House of Representatives
Media Contact: Daniel Massing
dmassing@pahousegop.com
RepCorr.com /
Facebook.com/RepCorr