- Associated Press - Tuesday, May 12, 2015

HARRISBURG, Pa. (AP) - Actuaries estimate that sprawling pension legislation being fast-tracked by Republicans in the Pennsylvania Senate could save $18 billion on more than $180 billion in projected payments over 30 years.

Tuesday’s estimates came with a warning by one actuarial firm’s statement that it didn’t have time for a complete review of all the bill’s elements. Senate Republicans plan a vote Wednesday, although Gov. Tom Wolf says his plan is better for taxpayers.

The Senate GOP bill would end the traditional pension benefit that’s owed to about 370,000 state government and public school employees. Current retirees would be unaffected.

Still, actuaries say the bill gets most of the estimated savings from requiring concessions from current employees. However, Democrats say that reducing benefits for current employees without their agreement is flatly unconstitutional.


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