Pa. Lawmakers Introduce Sweeping Pension Reform Plan

Law360, Philadelphia (May 07, 2013, 4:33 PM ET) -- Flanked by members of the state Senate and House of Representatives, Pennsylvania Gov. Tom Corbett unveiled legislation Tuesday aimed at lowering the state’s unfunded pension liability by introducing new 401(k)-style defined contribution retirement plans for public employees.

Corbett, who tagged pension reform as a key priority in his annual budget address in February, is seeing his proposals for new employee contribution systems and redefined benefit calculations advanced in legislation sponsored by Sen. Mike Brubaker, R-Lancaster, and Rep. Chris Ross, R-Chester.

“I commend Sen. Brubaker and Rep....
To view the full article, register now.