Search Results for: tom corbett

Pennsylvania Republicans: State Pension Reform Is “No. 1 Issue” in 2015

Pennsylvania Gov. Tom Wolf, in stark contrast to his predecessor Tom Corbett, has been adamant that he is not on board with any sweeping changes to the state’s pension system – particularly the switch to a 401(k)-style system favored by many of the state’s Republican lawmakers. But House Republicans re-iterated last week that pension reform … Continue reading Pennsylvania Republicans: State Pension Reform Is “No. 1 Issue” in 2015

Pennsylvania Lawmaker Pushes For Pension Reform Action Before New Governor Takes Office

Pennsylvania Gov-elect Tom Wolf, in stark contrast to his predecessor Tom Corbett, has been adamant that he is not on board with any sweeping changes to the state’s pension system. But Wolf doesn’t take office until Jan. 20 – and some Republican lawmakers are still pushing for a quick passage of reform legislation before Wolf … Continue reading Pennsylvania Lawmaker Pushes For Pension Reform Action Before New Governor Takes Office

Two Pension Bills Sitting in Pennsylvania Legislature Likely to Resurface In 2015

Pennsylvania’s outgoing governor, Tom Corbett, made reforming the state’s pension system his top priority over the last year. But his plan – which would shift new hires into a “hybrid” plan with characteristics of a 401(k) – failed to enthuse most legislators. Still, two pension bills are still sitting in the legislature, and they are … Continue reading Two Pension Bills Sitting in Pennsylvania Legislature Likely to Resurface In 2015

Pennsylvania Pension Contribution To Rise By $466 Million in 2015

Pennsylvania’s required annual contributions to its two pension systems are set to grow by $466 million next year – bringing the state’s tab in 2015 to over $2 billion. The information was revealed by the state’s budget secretary during an annual update on the state’s fiscal condition. From the PA Independent: State-level contributions to Pennsylvania’s … Continue reading Pennsylvania Pension Contribution To Rise By $466 Million in 2015

Pennsylvania Lawmakers Mull Taking Up Pension Reform During Lame Duck Session

Tom Corbett has until January 20 before Tom Wolf takes over as governor of Pennsylvania. Corbett has spent the last year pushing for pension reform, but the proposed bills never gained traction in the legislature. Now, a handful of lawmakers are considering quickly putting together and pushing through a pension reform bill — although the … Continue reading Pennsylvania Lawmakers Mull Taking Up Pension Reform During Lame Duck Session

Philadelphia Pension Board Now Asking Investment Firms To Disclose Political Spending

For the first time, investment firms will be asked to submit campaign disclosure documents before managing money for the Philadelphia Board of Pensions. Reported by PhillyDeals: Over the opposition of Mayor Michael Nutter’s appointees, a majority of the trustees of Philadelphia’s $4.8 billion city pension plan have agreed to “request” dozens of private firms that … Continue reading Philadelphia Pension Board Now Asking Investment Firms To Disclose Political Spending

Fitch Downgrades Pennsylvania; “Weakened” Pension System Drives Demotion

Credit rating agency Fitch has downgraded Pennsylvania’s general obligation bonds one notch, from AA to AA-. What’s more, Fitch changed the state’s outlook from “stable” to “negative” – meaning another downgrade could be coming if Pennsylvania doesn’t address the structural problems that led to this recent demotion. The structural problems in question are largely linked … Continue reading Fitch Downgrades Pennsylvania; “Weakened” Pension System Drives Demotion

Pennsylvania Lawmaker Speaks Out Against “Irresponsible” Reform Efforts

Pennsylvania Gov. Tom Corbett spent most of his summer traveling the state and touting the need for pension reform. The legislators are now back from their breaks, but pension reform bills continue to gather dust. Republicans have been vocal about Democrat lawmakers’ unwillingness to work with the reform bills currently on the table. Now, one … Continue reading Pennsylvania Lawmaker Speaks Out Against “Irresponsible” Reform Efforts

Pennsylvania Lawmakers Return From Break, But Pension Reform Remains On Backburner

Pennsylvania lawmakers returned to the capitol this week to convene for the fall legislative session. While they were out, Gov. Tom Corbett traveled around the state and continued to try to drum up public support for pension reform and his re-election. But the pension reform bill currently in the House seems unlikely to go anywhere; … Continue reading Pennsylvania Lawmakers Return From Break, But Pension Reform Remains On Backburner

Pennsylvania Lawmaker Proposes Trash Tax to Ease Pension Pains

Pennsylvania Governor Tom Corbett has made pension reform a major part of his re-election platform, but has had little luck finding lawmakers to help him push through proposals. One lawmaker put a new idea in the ring Thursday, although it’s probably not what Corbett had in mind. Reported by the Morning Call: State Rep. David … Continue reading Pennsylvania Lawmaker Proposes Trash Tax to Ease Pension Pains


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