Retire the current retirement system
This Daily Item editorial gets it almost exactly right.
While the conclusions are accurate that it will be the taxpayers who take it on the chin, the blame is actually not with the Public School Employee Retirement System Board. They are merely the managers of the system.
The blame fully resides with the General Assembly and Governor. THEY — not the PSERS Board — are responsible for committing the taxpayers to unaffordable and unpredictable promises. PSERS is merely the bearer of the bad news … that is only going to get worse!
Look for our report on PA’s looming pension and healhcare crisis coming out this week!