NOVEMBER 12, 2010 | Policy Points by COMMONWEALTH FOUNDATION

13 Reasons to Oppose HB 2497

The Generational Theft Act of 2010

Pennsylvania's largest public pension plans—Public School Employees Retirement System (PSERS) and State Employees Retirement System (SERS)—are severely underfunded.  But instead of reforming the defined-benefit pension system and paying down these liabilities, House Bill 2497 would defer pension payments and increase the unfunded liability by tens of billions of dollars in lost investments and interest.  Simply put, HB 2497 is generational theft-forcing our children and grandchildren to pay for Harrisburg's fiscal irresponsibility.

NOVEMBER 8, 2010 | Commentary by NATHAN BENEFIELD

Corbett's Challenge

As Tom Corbett prepares for his move into the Pennsylvania Governor's Mansion, he must be realizing the magnitude of what he is about to undertake: the governorship of a state that is facing both a short- and long-term fiscal crisis.

NOVEMBER 1, 2010 | Policy Points by COMMONWEALTH FOUNDATION

Union Pension Bailout & Generational Theft

Pennsylvania's largest public pension plans—Public School Employees Retirement System (PSERS) and State Employees Retirement System (SERS)—are severely underfunded. But instead of reforming the defined-benefit pension system and paying down these liabilities, House Bill 2497 would defer pension payments and increase the unfunded liability by tens of billions of dollars in lost investments and interest. Simply put, HB 2497 is generational theft—forcing our children and grandchildren to pay for Harrisburg's fiscal irresponsibility and a union pension bailout.

OCTOBER 25, 2010 | Commentary by DONALD HOFFMAN

Time to End Public Sector Indentured Servitude

Public service is one of the few places where one still can find a defined benefit pot of gold at the end of their employment. Although defined benefit pensions are all but extinct in the private sector, most government workers in Pennsylvania are still stuck in these retirement plans.

OCTOBER 12, 2010 | News Release by COMMONWEALTH FOUNDATION

Commonwealth Foundation President Calls Pension Reform "Bailout for Union Bosses"

HB 2497 represents more lame-duck lunacy

Commonwealth Foundation president and CEO Matthew J. Brouillette released the following statement regarding HB 2497 -- the so-called SERS & PSERS pension reform legislation currently before the Pennsylvania Senate:

OCTOBER 7, 2010 | News Release by COMMONWEALTH FOUNDATION

Pennsylvania Needs True Pension Reform

The state pension time bomb is taking front stage again in the waning days of the 2009-2010 legislative session. The Senate is revisiting HB 2497—the $27 billion pension deferral plan passed by the House in June.  In a new video, CF Director of Policy Research Nate Benefield sits down with Senior Fellow Rick Dreyfuss to discuss HB 2497 and the principles of real pension reform.

JUNE 23, 2010 | Policy Report by COMMONWEALTH FOUNDATION

A Taxpayer's Budget 2010: Responsible Spending for Pennsylvania

A Taxpayer's Budget 2010: Responsible Spending for Pennsylvania identifies opportunities to cut over $4 billion in wasteful state spending in Gov. Rendell's proposed FY 2010-11 budget.  The report also offers a series of recommendations for resolving the current revenue shortfall and reducing the size and burden of government on Pennsylvanians.

JUNE 21, 2010 | Commentary by RICHARD DREYFUSS

$27 Billion Pension "Reform": Still Doubling Down on Generational Theft

An Update on HB 2497

On June 16, the PA House passed pension "non-reform" by further deferring the scheduled taxpayers' contributions to the state's largest government pension plans - the Public School Employees Retirement System (PSERS) and State Employees Retirement System (SERS).  They also created a new reduced defined benefit plan for new hires. The net cost of this reform with interest is still a breathtaking $27 billion.  Since the prior version of the bill was an incremental $52 billion - by some scorecards this bill should be considered only half as bad.

JUNE 15, 2010 | Commentary by RICHARD DREYFUSS

Rendell's $52 Billion Pension "Reform"

Doubling down on generational theft

Gov. Rendell and the Democrat-controlled House are trying to redefine pension "reform" by further deferring the scheduled taxpayers' contributions to the state's largest government pension plans - the Public School Employees Retirement System (PSERS) and State Employees Retirement System (SERS).  The cost of this reform with interest is a breathtaking $52 billion.

MAY 11, 2010 | Policy Points by COMMONWEALTH FOUNDATION

Public vs. Private Employment & Pay

Pennsylvania's private sector lost 113,600 jobs while state and local governments added 40,200 positions between 2000 and 2009, according to the Bureau of Labor Statistics. At the same time, public-sector wages exceed those for comparable positions in the private sector.