Pension Reform Bill Strikes a Responsible Balance
An Op-Ed
By SENATOR JOE SCARNATI Pennsylvania faces a monumental state pension crisis. Public employee pension systems were initially designed with the goal of balancing the retirement benefits of employees and interests of taxpayers. Unfortunately, economic conditions over the past several years have tipped the scales heavily against taxpayers. The state’s pension obligations are staggering. This year alone, we face a $1 billion increase in our pension contributions (in addition to $3.5 billion spent in 2014-15). As the pension crisis has continued to devour state resources and drive up property taxes, viable solutions have been difficult to come by. In the Senate, we have been actively working to find a solution to this increasing problem. I recently joined my Senate colleagues in passing Senate Bill 1, legislation to restore balance by restructuring the state’s public employee pension systems. While the pension problems are extremely complex, the goals and facts of Senate Bill 1 a...