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Keystone Research Center

State Treasurer Rob McCord Slams Pension ‘Reform’ Proposal

“It is more clear to me than ever that the Governor has not proposed a pension reform plan, he has proposed a scheme to allow him to close a hole in this year’s budget at both far higher costs for taxpayers and far lower benefits for retired workers down the road.“  – State Treasurer Rob McCord This quote from State Treasurer Rob McCord, during a media conference call on Tuesday, is perhaps one of the most direct and honest assessments to date of this misguided attempt to overhaul the public pension system in Pennsylvania. Read More

Governor’s Proposal to Delay State Contributions Would Add Billions to Public Pension Debt

The Keystone Research Center (KRC) this week released the fourth in their series of “Pension Primers”, which found that Governor Corbett’s proposal to delay state and school district pension contributions would significantly worsen Pennsylvania’s public pension debt. The administration’s own analysis shows that reduced pension payments between now and 2019 would increase Pennsylvania’s pension debt by nearly $5 billion. Read More