Posted: | February 11, 2015 12:12 PM |
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From: | Representative Mike Tobash |
To: | All House members |
Subject: | Future State and School District Employees Hybrid Retirement Plan |
Dear colleagues, As our state pension crisis worsens, I am introducing legislation to change the retirement plan offered by SERS and PSERS for future employees of the Commonwealth and our school districts. The proposal contains a hybrid design that reduces the Defined Benefit plan that current employees have and introduces the first mandatory Defined Contribution plan for these new employees. In developing and refining this plan, we were driven by four major goals, they include: Lowering the Cost of Benefits provided to future employees
Please join me in this effort to reform our public sector state pensions by co-sponsoring this important measure. Please review the Public Employees Retirement Commission report from the previous session for further information at: http://www.perc.state.pa.us/portal/server.pt/community/perc_home/2513. Visit www.PAneedspensionreform.com for statistics and specific information about the hybrid plan. |