Pensions

Currently there are attempts being made to replace pensions that workers have earned and contributed to.  Elected officials have admitted that it is the fault of Wall Street and themselves for poor investment returns and underfunding, yet they want workers to pay for those mistakes.  We must fight back with the truth.

Here are three things you should know about state employee pensions:

  1. Employees have been paying their fair share all along, contributing between 6% and 10% of every paycheck to their pension, even when the Commonwealth and many school districts failed to make their contributions.
  2. Politicians are trying to make public employees pay for mistakes made by the greed on Wall Street… but the changes they are proposing will actually cost the taxpayers MORE money!
  3. Act 120, the 2010 Pension Reform Law passed with bipartisan support already reduced pension benefits and raised the retirement age for new employees. Now politicians need to fulfill their promise by honoring the commitments they made.  Give Act 120 a chance to work!

The fact is that our public pension systems in PA are not facing a ‘fiscal cliff’, and there is plenty of time to allow the meaningful reforms of Act 120 to prove their value.

Check back here often and follow the blog below for updates on this critical legislative issue that affects so many working families in Pennsylvania.

blog_governmentthatworks

Fight For A Fair Budget: Government That Works

Governor Wolf explained that “it’s time to restore the public’s trust in our government by pushing for reforms and initiatives that increase openness and transparency.”  His administration has already taken great steps towards achieving those goals, and his budget proposal continues that commitment to solutions that work for taxpayers, rather than rewarding special interests. Read More

Pennsylvania AFL-CIO, In Light Of Actuarial Report Urges Legislative Leaders To Stop Playing Politics With Our Pensions

Harrisburg, PA – Pennsylvania AFL-CIO President Rick Bloomingdale and Secretary-Treasurer Frank Snyder agree with the actuarial analysis released by the Public Employees Retirement Commission (PERC), which indicates the huge added transition costs – $31 billion – resulting from closing off defined benefit pensions to younger workers and moving them into a less secure 401 – (k) type of plan. Read More
State Capitol

Take Action! State Senate Votes For Outrageous Attack On Workers’ Retirement

We told you on Friday about a last-minute bill that the Senate Republicans were trying to rush through the chamber, with no oversight, financial analysis, or hearings.  During a whirlwind 3 days, the Senate managed to pass the bill out of the Finance committee and the Appropriations committee, in spite of there being no actuarial analysis of the bill, and the full Senate just passed the bill this afternoon by a final vote of 28 to 19.  Read More