VIDEO: Vereb, Browne discuss Basic Education Funding Commission Report

VIDEO: Vereb, Browne discuss Basic Education Funding Commission Report

Sen. Pat Browne (R-Lehigh) and Rep. Mike Vereb (R-Montgomery), co-chairs of the Basic Education Funding Commission, discussed the report released by the commission today. 

Thursday, June 18, 2015/Author: Alanna Koll
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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
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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
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