Gov. Wolf, Torsella repeat call for state pension boards to reduce fees, move to more passive investment strategy

Gov. Wolf, Torsella repeat call for state pension boards to reduce fees, move to more passive investment strategy

Gov. Tom Wolf and Treasurer Joe Torsella Monday doubled-down on their call for the State Employees’ Retirement System and the Public School Employees’ Retirement System to reduce their management fees, move to a more passive investment model, and increase savings opportunities.

 

The call comes on the heels of the Wolf administration combining three funds into one Treasury-managed fund and the Treasury putting all public equity investments into a passive investment model and an April 13 letter to the systems encouraging to adopt similar reforms.

Monday, April 24, 2017/Author: Jason Gottesman
Categories: News and Views

Gov. Wolf revokes Lt. Gov. Stack’s state police detail

According to the governor’s office Friday, Gov. Tom Wolf has revoked the State Police coverage given to Lt. Gov. Michael Stack and his wife Tonya as a result of allegations of maltreatment of both his State Police protection and staff at The State House in Ft. Indiantown Gap that have led to an investigation by the Office of Inspector General into both his conduct and that of his wife.

 

In a statement offered Friday afternoon, Gov. Wolf’s press secretary JJ Abbott said the governor hand-delivered a letter to Lt. Gov. Stack informing him of the decision.

Sunday, April 23, 2017/Author: Jason Gottesman
Categories: News and Views
Revenue Department launches tax amnesty program

Revenue Department launches tax amnesty program

Remember that little corner of the current year’s budget plan that called for $100 million in revenue from a tax amnesty program? Friday, the Department of Revenue announced that the program starts April 21 and will run for a 60-day period ending on June 19, 2017.

Friday, April 21, 2017/Author: Jason Gottesman
Categories: News and Views
PA unemployment rate drops to lowest level since 2008

PA unemployment rate drops to lowest level since 2008

The month of March brought good news to Pennsylvania on the unemployment front: the commonwealth’s seasonally adjusted unemployment rate dropped two-tenths of a percent to 4.8 percent, the lowest level since the early stages of the Great Recession in February 2008.

Friday, April 21, 2017/Author: Jason Gottesman
Categories: News and Views
State regulatory review commission approves modernized taxicab regulations

State regulatory review commission approves modernized taxicab regulations

The Independent Regulatory Review Commission Thursday unanimously approved a set of final regulations from the Public Utility Commission that are aimed at modernizing the commission’s regulation of taxicabs in order to help them better compete with the recently legalized transportation network companies such as Uber and Lyft.

 

Stemming from enabling legislation in Act 85 of 2016 and Act 164 of 2016 that allowed the temporary then permanent legalization of TNCs, the legislature tasked the PUC with promulgating new regulations as they pertain to taxicab and motor carrier companies that would allow them to better compete with TNCs, which operate on a different business model than traditional taxi companies.

Thursday, April 20, 2017/Author: Jason Gottesman
Categories: News and Views
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