Posted on 03/05/2011 9:58:54 AM PST by Oldeconomybuyer
HARRISBURG - Worries about unsustainable public pension costs are prompting a statewide group to suggest a legal challenge to the widely held assumption that pension benefits for current state government and public school employees can't be scaled back.
The Pennsylvania Institute of Certified Public Accountants urged Gov. Tom Corbett and lawmakers to consider taking unspecified legal action to address benefits for current employees as a way to bring pension costs under control.
The CPAs said they are not advocating a specific legal approach, but such a challenge could be mounted by passing new pension benefit-cuts legislation as a way to create a test case before state courts.
While easing the cost spike, the new pension law requires that state and school districts pay an average of $5 billion into the Public School Employees' Retirement System and State Employees' Retirement System during the next decade.
"The simple fact is the pension systems for school teachers, public employees and state lawmakers are not sustainable in their current forms considering the fiscal challenges the state now faces," according to the PICPA report.
(Excerpt) Read more at thedailyreview.com ...
Thanks for posting. I sent this to my state reps here in PA.
You’re quite welcome!
This is in essence what one Freeper I was discussing this with called the "Clawback"....
Looks like it is a possibility and not just for Exec's the Obamatons hate...
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