House Republicans see some positives to Gov. Wolf’s pension proposal

House Republicans see some positives to Gov. Wolf’s pension proposal

Some House Republicans are praising portions of the pension proposal laid out by Gov. Tom Wolf in his budget address Tuesday.

In that address, Gov. Wolf proposed borrowing $3 billion to refinance some of the PSERS unfunded liability with the debt service to be paid by $185 million per year obtained through revenues from liquor modernization.

He also called for reforming the investment strategies of both state-run pension systems so as to reduce the cost of fund management fees, which is hoped to save $200 million annually and reduce the unfunded liability by more than $2 billion over its anticipated life.

Wednesday, March 4, 2015/Author: Jason Gottesman
Categories: News and Views
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