HARRISBURG, Pa. (AP) - The Latest on public pension legislation to overhaul benefits for newly hired public school teachers and state government employees (all times local):
10:30 p.m.
The latest bill in the Pennsylvania Legislature to overhaul benefits in the state’s two large public pension systems is stalling as the legislative session winds down.
Neither the House nor the Senate held a vote on the bill Wednesday night, and Senate Majority Leader Jake Corman says he doesn’t expect the legislation to pass before the session ends Nov. 30. The House adjourned Wednesday night, but scheduled a Thursday voting session.
The recently unveiled bill is a variation of legislation that Republicans have tried unsuccessfully for several years to pass.
The bill would reduce traditional pension benefits for newly hired state government and public school employees and add plan options that rely on a 401(k)-style benefit.
The changes wouldn’t yield any short-term savings for the state and school districts, but supporters say it’ll help shield them from spikes in pension obligations in the future.
Democratic Gov. Tom Wolf was non-committal on the bill.
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1 p.m.
Pennsylvania lawmakers are considering whether to overhaul pension benefits for newly hired public school teachers and state government employees, but the changes wouldn’t apply to current legislators.
The House and Senate may vote Wednesday on legislation to create new retirement plans that reduce the traditional pension benefit and offer 401(k)-style benefit options.
The recently unveiled legislation would gradually produce some projected savings on the state’s massive pension debt, but none in the near future.
The state troopers’ association is warning lawmakers it will sue over one provision and that another could trigger widespread retirements.
Previous pension bills that stalled would have pushed lawmakers into the new plan upon re-election or given them the option to join it.
Neither provision is included in the bill now pending in the Legislature.
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