Monday, September 8, 2014

As Pension Crisis Looms, Wolf Seems Clueless



Pennsylvania's pension costs are currently consuming more than 60 cents of every new dollar of general fund revenues.
If left unaddressed, within four years, SERS and PSERS will be underfunded by $65 billon, or $13,000 per Pennsylvania household and double the state budget. Pennsylvania also risks a credit downgrade, which would further strain future budgets. Pension costs are also a major cost driver for local school districts, leading to higher property taxes for homeowners. 
Oh and by the way, Wolf's company has already moved their employees from a defined benefit to a 401-k plan. Further proof of Wolf's hypocrisy.

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