Senate Approves Public Pension Reform Measure

Senator Scott Hutchinson issued the following statement following Senate passage Wednesday of Senate Bill 1, a measure restructuring the state’s two public employee pension systems – the State Employees’ Retirement System and the Public School Employees’ Retirement System – in order to make them viable in the long term.

“This bill recognizes the basic, undisputable fact that increasing pension costs must be addressed. This is not an easy task. It is important to stress that the benefits already earned by employees and retirees are protected. They are unchanged by Senate Bill 1. Instead, this bill provides an equitable way to address pension costs beginning in 2016 and moving forward from there,” Senator Hutchinson said. “Economic conditions in the Commonwealth have significantly changed since the current style of pension plan was established, and travelling the current course is unsustainable for the taxpayers and property owners of Pennsylvania.  Private employers moved in this direction long ago.”

Contact:  Justin Leventry  (717) 787-9684