May 13, 2015

PSEA President: Senate GOP pension bill puts bad process over good policy

PSEA President Mike Crossey issued a May 13 statement regarding a flawed pension bill state Senate Republican leaders rushed through the Senate.

"Today, the Senate passed the most convoluted pension bill we've seen in three years and shut out any reasonable public review, debate, or discussion in order to do it.

"This bill slashes pension benefits for younger teachers, nurses, and cafeteria workers by 70 percent, cuts benefits for current teachers by an average of 20 percent, does almost nothing to reduce the pension debt legislators racked up over a decade, and saves zero dollars in the short-term.

"As bad as this bill is, the process the Senate used to ram it through is even worse. Even the independent actuary hired to analyze it said 'we did not read the entire bill' and that the short time their team had to review it 'was insufficient to perform a complete review.'

"The hundreds of thousands of Pennsylvanians whose benefits will be slashed in an effort to pay the credit card bill the Legislature has rung up will not stop speaking out about this and defending the retirement security they've earned and paid for."

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