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Union rep says Corbett plan costs more, less effective

April 8, 2013

A Pennsylvania State Education Association vice president representing a state Public Pensions Coalition warned that Gov....

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(4)

mikekerstetter

Apr-08-13 12:09 PM

Francine, and fromtheport, what he says is the truth. The plans at one time were funded at 125%, from what I read, and then the various Governments were allowed to withhold payments for a 10 year period, which, coupled with the stock market downturn, turned the retirement accounts which had more than enough money into accounts which are underfunded. During the last 10 years Investments accounted for 69% of the SERS funding, with employee contributions accounting for 21% and employer contributions (the Government) accounting for 10%.

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garder54

Apr-08-13 11:39 AM

fromtheport,

Learn to spell.

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Justin1

Apr-08-13 7:35 AM

Nice typo in the last quote in the article. I think the writer meant "defined contribution plan".

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fromtheport

Apr-08-13 3:29 AM

When ever a union rep talks they are lieing

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