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The Commonwealth Foundation is Pennsylvania's free-market think tank. The Commonwealth Foundation transforms free-market ideas into public policies so all Pennsylvanians can flourish.
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For years, government union leaders have attacked 401(k)-style reforms to the current pension system as “risky,” “inferior,” “bad for employees,” “fiscally irresponsible,” and “unfair to workers.” But the Commonwealth Foundation has uncovered that Pennsylvania’s government unions provide 401(k)-style retirement plans to their own employees.
As budget negotiations continue, Gov. Wolf recently called Republicans “disingenuous” for criticizing his pension “compromise.” But Wolf’s so-called “compromise” uncannily mirrors his original plan and does not address his plan to increase taxes on Pennsylvanians by $1,400 per family of four.
Today, Governor Tom Wolf vetoed historic pension reform legislation that would have safeguarded public employees’ retirements while protecting Pennsylvanians from burdensome tax increases.
Just as Pennsylvanians prepare to celebrate our nation’s independence, Wolf opted to keep consumers bound by a government system that offers less convenience, fewer choices, and higher prices.