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Analyst: State needs pension reform now

May 24, 2013

Pennsylvania’s public employees’ pension problem is a growing “toxic” situation that will affect generations if reforms are not made, according to a Pennsylvania Economy League pension expert who......

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(1)

mikekerstetter

May-24-13 9:40 AM

The problem I see with this Article is that it barely alludes to the fact that the Government purposely allowed the funds to go from 125% funded (which means they had more money than they needed) down to the current 60% they have by not putting their share into the funds. It's a self-induced crisis. And while he are correct that a defined contribution plan should, in theory (in theory, because if the government decides not to put in their share again, you're back to the same situation), solve the problem for future employees. It does nothing, however, to solve the problem for current employees and retirees.

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