It’s a rule as old as budgets themselves: Tough fiscal situations mean tough spending decisions. This year is no different. With the Commonwealth and school districts entering another tough budget year, debate over public pensions and how they relate to General Fund obligations has once again garnered center stage.
As announced in his 2014-2015 budget address, Gov. Tom Corbett has assumed coming fiscal year pension savings of $170 million for the state and $131 million for school districts in balancing his proposed budget.
To date, no pension reform legislation has been introduced following the governor’s budget address. Here’s a look at the most talked about pension reform concepts and where the debate might take any possible legislation as the June 30 budget deadline approaches.