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Municipal Public Pension Reform

Background

Public pension reform is necessary if Pennsylvanians want to grow the economy and improve government operations. Without legislative action soon, the state’s pension obligations will continue to consume larger portions of the state budget.  This will further strain the ability of state, county and municipal governments, and school dis­tricts to maintain, let alone improve, basic services.

PA Auditor General participated in the Chamber's Advocacy & Community Leadership Forum on September 14, 2015 and share the findings from the report of the taskforce he lead for the Governor on municipal pension. Click here for the Summary or click on PA Municipal Challenges Report June 30, 2015  

Interview with PA Auditor General Eugene DePasquale 

PA Auditor General speaks about Municipal Pension at Chamber’s Advocacy & Community Leadership Series – Reading Eagle Article 

One-third of Pennsylvania’s municipal pension plans are considered distressed. Almost every county in the state has at least one municipality with a pension plan under a high level of financial stress. Find additional information at: FixtheNumbers.com.

Chamber's Position

As a county-wide regional Chamber, we are committed to doing all we can to improve the economic climate throughout the Greater Reading Region. Your Chamber has been a leader in forming the Coalition for Sustainable Communities,  a growing alliance of chambers of commerce, local government associations and other business, community and municipal leaders all committed to helping Pennsylvania's rural, suburban and urban communities address growing economic and financial challenges. Together we are advocating to promote structural change in our communities and municipalities by removing state-mandated barriers related to pensions and binding arbitration.  These changes will enhance the economic climate in PA Communities creating more fiscal stability and quality of service levels. 

Pension Legislation We Support

PA House Bill 316 
Affordable and fair municipal pension reform for taxpayers and uniformed unions

Unlike the current mandated defined benefit pension plans, House Bill 316 will create a cash balance plan for future employees which will reduce employer costs by providing a reliable benefit structure, a modest benefit reduction, and a stream of revenue devoted to paying the unfunded liability of the current defined benefit plans (legacy pensions). These changes result in sustainable public safety pension, as well as improve job and pension security.

PA Senate Bill 755

Affordable and fair municipal pension reform for taxpayers and uniformed unions

Unlike the current mandated defined benefit pension plans, Senate Bill 755 will create a defined contribution plan for future employees which will eventually reduce employer costs by providing a reliable benefit structure and shifting the investment risk to the employee.  These changes result in sustainable public safety pension, as well as improve job and pension security.

Take Action - join our advocacy campaign Click Here to contact your legislator and tell him or her to get serious about pension reform.

For more information on sustainable communities, contact the Chamber at 610.376.6766 or email Ellen Horan atehoran@greaterreadingchamber.org or Gail Landis atglandis@greaterreadingchamber.org.