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Pennsylvania must consider reducing future pension benefits of state employees, lawmaker says

Published on May 21, 2012, in Pension Reform.

A top state senator says the government needs to consider reducing the future benefits of employees to help soften a massive pension cost spike, even if it means challenging state constitutional law.

Senate Appropriations Committee Chairman Jake Corman said Monday that he hopes a major pension reform plan will be in place with the annual state budget that is to be assembled one year from now.

Long-established legal interpretations dictate that pension benefits promised the day of hire to school employees and government workers may not be reduced….

LINK – www.pennlive.com