Keeping up with the neighbors

A look at state government news across the region

Maryland deals with its own pension crisis; New Jersey sees another casino close; and New York sees inquiries into public record retention policies. 

Monday, August 18, 2014/Author: Mike Howells
Categories: Features
VIDEO: Corman discusses budget/revenue possibilities

VIDEO: Corman discusses budget/revenue possibilities

Senate Appropriations Chairman Jake Corman gives an update of budget negotiations after an off-the-floor meeting. 

Thursday, June 26, 2014/Author: Alanna Koll
Categories: Video
VIDEO: Pileggi gives budget update; talks liquor privatization, education

VIDEO: Pileggi gives budget update; talks liquor privatization, education

Senate Majority Leader Dominic Pileggi gives a budget negotiation update. 

Wednesday, June 25, 2014/Author: Alanna Koll
Categories: Video

Municipal Pension Bill Could Be First Step in Broader Reform

House Bill 1581 introduced by Rep. Seth Grove (R-York) took center stage in a number of events Tuesday and could foreshadow the first step in broader pension reform.

The legislation would reform municipal pensions by moving them to a cash balance plan where benefit holders will have individual accounts that are added to in the fashion of a defined benefit plan and paid out in the form of a defined contribution plan. Under the bill the employer contribution would be 4.5 percent and employees would contribute either six percent or nine percent, depending on whether they receive Social Security payments.

According to Rep. Grove, the plan also provides for an avenue to pay off the unfunded liability and remove pensions from binding arbitration.

To find out if the legislation will pass in its current form and how it plays into broader pension reform plans, CLICK HERE.

Tuesday, April 8, 2014/Author: The PLS Reporter
Categories: News and Views

OF PENSIONS AND PLANS

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.

Read more.


Friday, March 28, 2014/Author: The PLS Reporter
Categories: Features
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