Pennsylvania Gov. Wolf Will Veto State Pension Overhaul

Pennsylvania Gov. Tom Wolf indicated on Thursday morning that he will veto a measure, recently passed by GOP lawmakers, that would overhaul the state’s pension system and shift new hires into a “hybrid” system with 401(k) features.

Wolf’s decision comes as no surprise – since his election, he has vocally disapproved of any pension reform plan that includes a shift to a hybrid, 401(k)-style plan.

From ABC 6:

Gov. Tom Wolf is saying he will veto a Republican bill to overhaul Pennsylvania’s public pensions.

The Democratic governor made his comments Thursday morning in a live telephone interview with KQV Newsradio in Pittsburgh.

Although he vetoed a Republican state budget plan and a GOP proposal to privatize state-controlled liquor and wine sales, Wolf has inexplicably held onto the pension legislation for more than a week. He has until Friday to sign the bill or allow it to become law without his signature.

Wolf says the bill on his desk is an improvement over previous pension overhaul proposals, but that it is not good for future state and school employees.

It’s unclear why Wolf held onto the bill for a week before his veto, because it’s unlikely Wolf ever seriously considered approving the measure.

Photo by Governor Tom Wolf via Flickr CC License