What might be coming down the pension pipeline?

Following Wednesday’s Public Employee Retirement Commission meeting, commission members and staff discussed with reporters what the commission has been working on and asked to look at with regard to possible upcoming pension bills and amendments.

Notably, other than the already-sunshined House Bill 727, the commission reports that it has not recently been officially asked to review any stand-alone state pension system reform bills.

Wednesday, June 17, 2015/Author: Jason Gottesman
Categories: News and Views
Pension reform bill’s savings come at a high cost, PERC says

Pension reform bill’s savings come at a high cost, PERC says

The Public Employee Retirement Commission—colloquially known as PERC—approved an actuarial note to House Bill 900 Wednesday, and in so doing, reported that while the legislation provides for considerable pension savings over a shorter period of time than other reform proposals, it may require funding not in line with budget realities.

One of the policy considerations included in the actuarial note says the following:

“[House Bill 900] requires the systems' unfunded accrued liabilities to be fully funded over a period of 20 years, beginning July 1, 2015. Yet the bill fails to detail the source(s) of the additional funding necessary to fund the unfunded accrued liabilities in an accelerated amortization schedule. Policymakers may want to determine the viability of such a proposal in light of the Commonwealth's current budgetary climate.”

In fact, the commission went so far as to adopt an amendment to the actuarial review to emphasize the budgetary stress the pension reform bill would require, saying the almost $20 billion in combined savings “come at an immediate, substantial increase in contributions."

Wednesday, June 17, 2015/Author: Jason Gottesman
Categories: News and Views
VIDEO: Bill to move low-income families toward self-sustainability advances to House

VIDEO: Bill to move low-income families toward self-sustainability advances to House

The House Health Committee voted out HB 1164- reforming the Commonwealth's child care benefits structure in order to help families retain temporary assistance, while allowing them to earn their way out of poverty. 

Wednesday, June 17, 2015/Author: Alanna Koll
Tags:
VIDEO: To stay in the game, horse racetrack officials want to extend reach to millennials

VIDEO: To stay in the game, horse racetrack officials want to extend reach to millennials

While horse racetrack gaming in Pennsylvania may be doing well compared to other tracks throughout the rest of the country, Kevin Kile, Director of the Office of Racetrack Gaming for the Pennsylvania Gaming Control Board says there is a national decline in racing as a whole. During Wednesday's Senate Community, Economic & Recreational Development Committee meeting on gaming in the Commonwealth, Kile explains what he thinks could be done to extend their reach in promoting horse racetrack gaming in Pennsylvania. 

Wednesday, June 17, 2015/Author: Alanna Koll
Tags:
Capitol Quick Hits for 6.16.15

Capitol Quick Hits for 6.16.15

Here are the highlights from news conferences, rallies, and advocacy days held in the Capitol today: 

  • The Arc Pennsylvania gathered in the Main Capitol Rotunda with people of disabilities, family members, friends, disability organizations and advocates to rally for support and funding for services that allow people with disabilities to live in their homes and communities.  
  • The Pennsylvania Sickle Cell Provider’s Network held their 6th annual PA Supports Sickle Cell Disease Advocacy Day in the Main Capitol Rotunda. PASCP highlighted their project, the Hydroxyurea Health Education, Access and Awareness Initiative, which has decreased the number of children and adults with sickle cell disease in PA by nearly 20% over the past two years.
  • Residents from across Pennsylvania and environmental organizations gathered in the Main Capitol Rotunda to urge the legislature to adopt the increased funding for clean energy and environmental programs in Gov. Wolf’s proposed budget. 

Tuesday, June 16, 2015/Author: Alanna Koll
Categories: Event Central
Tags:
RSS
First502503504505506507508509510511Last