Republican senators are detailing the changes they’ll seek for benefits in Pennsylvania’s two major public employee pension systems.
A summary of long-awaited legislation obtained Wednesday by The Associated Press said Republican senators will seek concessions from many current employees and the eventual end of the debt-ridden traditional pension system that covers about 370,000 workers. New retirees would be unaffected.
Republicans say Pennsylvania’s pension debt is the state government’s biggest fiscal problem. Senate Majority Leader Jake Corman said he is awaiting the results of an actuary’s analysis that’ll estimate savings under the Senate GOP’s plan.
Many current employees would be required to contribute more to maintain their current benefit.
Future employees would get a 401(k)-style plan and a cash balance plan.
Those affected would include teachers, state police troopers, lawmakers and judges.