The debt is piling up in Pennsylvania and legislators blame pension plans.
Lawmakers say pension plans are increasing at such an alarming rate that we have gone from a surplus of $20 billion in 2000 to $50 billion debt in 2013.
But over the last few years, Pa. Sen. Judy Schwank, a Berks County Democrat, said there have been no bills to reach the governor's desk to address the long term problem.
"The solutions brought forth have been political quick fixes rather than thoughtful approaches to the pension problem. I think it is time to re-frame the conversation," Schwank said.
That is why Schwank has introduced Senate Bill 564. It is a plan to create a Public Pension Review Commission.
The commission will be made up of everyone from the governor and revenue secretary to representatives from counties, municipalities, school boards and even a few members of the public.
The bill proposes that they study the issue for six months, looking at the impact on pension holders, taxpayers and the state and try and come up with a long-term solution.
"When you complain about the services that you do not get or the funding for education that is not there, you need to understand that this is part of the reason," said Schwank.
Others stood up in support of Schwank's proposed bill and hope it passes through the legislature.
"I hope we learn as we move forward that when you have a problem, you just do not keep kicking it down the road. You stop, you think and you make informed choices," said Councilwoman Marsha Goodman-Hinnershitz, (D) Reading.
This bill was just introduced. If approved, the commission will have six months to come up with ideas to fix the pension crisis.
from 69News:Home http://ift.tt/183rbSm
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