Teachers Union: On Pension Legislation
Ideology Doesn't Trump Math
HARRISBURG (June 26, 2013) – Independent experts advise that pension bills under consideration in both the House and Senate will cost taxpayers an additional $40 billion, the president of Pennsylvania’s largest school employee union said today. Mike Crossey, president of the Pennsylvania State Education Association, pointed out that the Public Employee Retirement Commission (PERC) advised yesterday that House Bills 1352 and 1353 will cost at least an additional $37 billion. Actuaries for the Public School Employees’ Retirement System (PSERS) and the State Employees’ Retirement System (SERS) reported that elements of Gov. Tom Corbett’s pension plan, which are contained in Senate Bill 922, carry a $42 billion price tag. House Bills 1352 and 1353 were reported from the House State Government Committee yesterday. The Senate could begin consideration of Senate Bill 922 as early as today. “There is no reason for any lawmaker to vote yes on these bills, but there are 40 billion reasons to...