- Associated Press - Wednesday, May 6, 2015

2:30 p.m.

Democrats say a proposal by Republican senators to overhaul Pennsylvania’s two major public employee pension systems would punish workers for the failings of public officials.

Senate Minority Leader Jay Costa said Wednesday that workers have made their required contributions, and shouldn’t pay a price because policymakers made decisions that resulted in a huge pension debt.

Republican senators want to seek concessions from many current employees and the eventual end of the debt-ridden traditional pension system that covers about 370,000 workers. Today’s retirees would be unaffected.

Many current employees would be required to contribute more to maintain their current benefit, while future employees would get a 401(k)-style plan and a cash balance plan.

Among the affected would be teachers, state troopers, lawmakers and judges.

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1:10 p.m.

Republican senators are giving details about the changes they’ll seek to benefits in Pennsylvania’s two major public employee pension systems.

A summary of long-awaited legislation obtained Wednesday by The Associated Press said Republican senators will seek concessions from many current employees and the eventual end of the debt-ridden traditional pension system that covers about 370,000 workers. Today’s retirees would be unaffected.

Republicans say Pennsylvania’s pension debt is the state government’s biggest fiscal problem. Senate Majority Leader Jake Corman says he’s awaiting the results of an actuary’s analysis that’ll estimate savings under the Senate GOP’s plan.

Many current employees would be required to contribute more to maintain their current benefit, while future employees would get a 401(k)-style plan and a cash balance plan.

Among the affected would be teachers, state police troopers, lawmakers and judges.


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