Pennsylvania`s (2) retirement systems SERS and PSERS currently carry more than 45 billion dollars in unfunded liabilities. Governor Corbett is once again calling for reform to the two systems. Reform would be a great idea if his plan included funding the systems as established in ACT 120 of 2010 (a previous pension reform bill). Reform would be a great idea if the reform fixed the problems that plague the systems.
Instead of fixing the problems, the governor wants to further underfund a system that is already in trouble. It is time for responsible legislative leadership that will fix the systems instead of looking for short term solutions that further damage the future of Pennsylvania's State Employees.
Submitted by Virtual Newsroom