Richard Dreyfuss

Senior Fellow

Rick Dreyfuss is a Senior Fellow with the Commonwealth Foundation.

Rick is an actuary and business consultant. He worked for The Hershey Company (formerly Hershey Foods Corporation) for 21 years, and held numerous positions there, including director of compensation and benefits, prior to his retirement in 2002. Rick also chaired the Pennsylvania Health Care Cost Containment Council from 2001–2002.

Rick is a pension and health care expert who has written and testified before Congress and the Pennsylvania General Assembly on strategies to effectively manage long-term employee benefit costs.

Rick is a graduate of Connecticut College, with a B.A. in mathematics and economics. He earned his master’s degree in actuarial science at Northeastern University.

Public Union Democracy

Our Collision Course with Pa.’s Pension Iceberg

  • Richard Dreyfuss
  • June 17, 2016

As Pennsylvania continues approaching the public pension iceberg at full speed, how can we avoid a collision? Simply put, through reforms that mirror steps taken by the private sector years…

Commentary

Read More: Our Collision Course with Pa.’s Pension Iceberg

Regulation

Senate Seeks to End Generational Theft

  • Nathan Benefield, Richard Dreyfuss
  • May 31, 2012

This week, Senate Majority Whip Pat Browne, Sen. Mike Brubaker, Senate Appropriations Chair Jake Corman, and Senate Majority Leader Dominic Pileggi announced plans to introduce pension reform legislation. The…

Media

Read More: Senate Seeks to End Generational Theft

Public Union Democracy

Pennsylvania’s Pension Iceberg

  • Nathan Benefield, Richard Dreyfuss
  • May 21, 2012

Laura Olson of the Pittsburgh Post-Gazette has a story on the crisis in Pennsylvania’s public pensions, and Gov. Corbett injecting pension reform into the budget discussion: Even with…

Media

Read More: Pennsylvania’s Pension Iceberg

Regulation

Will our Grandchildren be Budget Losers?

  • Richard Dreyfuss
  • February 2, 2012

As the Governor's state budget address approaches, there is no shortage of speculation surrounding various fiscal austerity proposals and which departments and programs will likely be the ultimate budgetary "winners…

Commentary

Read More: Will our Grandchildren be Budget Losers?

Regulation

Not Paying Pension Bills Hurts our Grandkids

  • Richard Dreyfuss
  • June 15, 2011

Politicians last year passed their version of pension reform by deferring existing unfunded liabilities, making them even more unaffordable. The situation was so severe that they felt compelled to include…

Commentary

Read More: Not Paying Pension Bills Hurts our Grandkids

Regulation

The Phony “Surplus”

  • Nathan Benefield, Richard Dreyfuss
  • June 2, 2011

The Pennsylvania Department of Revenue released May General Fund tax collection data, and many lawmakers are clamoring to spend this “surplus”. But the idea there is any “surplus” is…

Media

Read More: The Phony “Surplus”

Regulation

Did Lawmakers Fix the Pension Mess?

  • Richard Dreyfuss
  • December 16, 2010

Joe DiStefano of the Philadelphia Inquirer writes that State Representative (and PSERS Board member) Dwight Evans claims no further pension reform is needed. Evans is hardly dealing with reality.

Media

Read More: Did Lawmakers Fix the Pension Mess?

Regulation

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

  • Richard Dreyfuss
  • June 21, 2010

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)…

Commentary

Read More: $27 Billion Pension “Reform”: Still Doubling Down on Generational Theft

Regulation

Rendell’s $52 Billion Pension “Reform”

  • Richard Dreyfuss
  • June 15, 2010

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…

Commentary

Read More: Rendell’s $52 Billion Pension “Reform”

Regulation

Punishing the Next Generation: The Rendell Pension Legacy

  • Richard Dreyfuss
  • October 14, 2009

As the Rendell administration moves inexorably toward its finish line in January 2011, it is reasonable to begin considering the issues awaiting the next governor. Of significant note is Rendell's…

Commentary

Read More: Punishing the Next Generation: The Rendell Pension Legacy

Regulation

Philly Pension “Reform”: A Vote to Raise Taxes Now and in the Future

  • Matthew Brouillette, Richard Dreyfuss
  • September 11, 2009

The state budget impasse hinges on the inability of Governor Rendell and the House Democrat Majority to garner enough votes for state tax increases.  Yet for now it seems enough…

Commentary

Read More: Philly Pension “Reform”: A Vote to Raise Taxes Now and in the Future

Regulation

Philadelphia’s “Pension Reform” is Generational Theft

  • Richard Dreyfuss
  • March 31, 2009

Faced with significant budget deficits and the burden of ever-increasing pension contributions, Philadelphia is attempting to finesse itself out of a financial dilemma. In simple terms, the city cannot afford…

Commentary

Read More: Philadelphia’s “Pension Reform” is Generational Theft

Regulation

The State’s Rosy Scenarios

  • Richard Dreyfuss
  • June 24, 2008

We live in uncertain times. This maxim is often heard in the corridors of the state Capitol where Excel spreadsheets support the marketing of new initiatives based on long-term financial…

Commentary

Read More: The State’s Rosy Scenarios

Regulation

No Extra Money in the Fund

  • Richard Dreyfuss
  • May 20, 2008

"There is no extra money in the fund" for a pension Cost Of Living Adjustment (COLA). That’s the analysis from the State Employees' Retirement System (SERS), not the Commonwealth Foundation…

Commentary

Read More: No Extra Money in the Fund

Health Care

Healthcare Affordability

  • Richard Dreyfuss
  • May 1, 2008

Healthcare Reform Principles Every reform action should be tested against two criteria: • Does it take costs out of the system?• Does it price insurance in proportion to expected…

Testimony

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Regulation

Mutually Exclusive: Pension COLAS and Lower Taxes

  • Richard Dreyfuss
  • March 10, 2008

In Government 101, we learn how a bill becomes law and the circuitous route that, at any stage of the political process, may derail a proposal. In fact, only 6.3%…

Commentary

Read More: Mutually Exclusive: Pension COLAS and Lower Taxes

Health Care

The Pension and Healthcare Non-Crisis

  • Richard Dreyfuss
  • January 29, 2007

Despite the well-documented unfunded liabilities in Pennsylvania’s largest public employee pension plans (PSERS and SERS), the response from Harrisburg to the coming fiscal crisis ranges from denial to paralysis. Following…

Commentary

Read More: The Pension and Healthcare Non-Crisis

Regulation

Getting Out of the Pension Dilemma

  • Richard Dreyfuss
  • October 4, 2006

(Editors Note: This Commentary was originally published on March 8, 2006) Pennsylvania’s public employee pension plans are facing a looming financial crisis. Regardless of how one looks at the current…

Commentary

Read More: Getting Out of the Pension Dilemma