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For Immediate
Release
4/5/11
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Senator White Reintroduces Pension Reform Bill
Would change plan for members of the General Assembly
Senator Don White recently reintroduced legislation designed to provide
savings to Pennsylvania's public pension system by dramatically changing the
program available to members of the Pennsylvania General Assembly.
Senate Bill 867 would convert all members of the Pennsylvania Legislature
from a defined benefit pension plan to a defined contribution plan beginning
Dec. 1, 2011. Senator White's legislation would make the conversion mandatory
for current and future state Senators and Representatives.
"Despite the reforms enacted during the last legislative session,
Pennsylvania's public pension systems remain in great financial distress,"
Senator White said. "There has been a fundamental change in pension benefits
offered by the private sector to its employees, with most companies offering
defined contribution plans and few, if any, providing defined benefit plans. It
is only right that we follow suit.
"In addition," Senator White continued, "by changing the pension plan
available to legislators, we will set an example and create an environment to
enact the broader, necessary pension reforms for all public employees in the
Commonwealth. We as legislators cannot in good faith encourage public employees
to move to a defined benefit program if we are not willing to do the same."
SB 867 includes the same language as Senate Bill 1472, which Senator White
introduced during the last legislative session. It also mirrors House Bill 418,
legislation introduced by state Representative Tim Krieger.
CONTACT:
Joe Pittman
(724) 357-0151
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