Opinion: In governor’s race, voters should note how pensions came to be under-funded (Pennsylvania)

Biz570.Com ^ | 17 September 2014 | Kelly Lewis

[Erik Latranyi]

I have read about 5 percent of the noise surrounding the upcoming governor’s race in Pennsylvania. As a former member of the Pennsylvania House of Representatives, I’m always amazed at what issues become amplified, minimized, and often buried. Less than 1 percent of the voters will read this little note, but as a son of teachers, and a friend to many current and retired teachers, administrators and state workers, I believe some facts deserve being said.

There is no doubt; incoming governors and other elected officials inherit the good, bad and ugly of the preceding budgets and sessions. There is no doubt Ed Rendell inherited some challenges after the budget surplus years of Gov. Tom Ridge and the first challenging budget faced by Gov. Mark Schweiker. But, what Gov. Rendell’s budgets left behind were nothing short of scorched earth. Devastating!

During my four years in the Pennsylvania House, we over-funded the annual required contributions for the state pensions, SERS; and 100 percent funded the teacher pensions, PSERS. When Gov. Rendell’s budgets underfunded the teacher pension fund, PSERS, by a massive $6.2 billion, things began to change quickly. His budgets underfunded the state pension fund, SERS, by $2.7 billion. All told,

Gov. Rendell’s budgets underfunded these two pension funds by a staggering $8.9 billion.

[Erik Latranyi]

Many PA Freepers want to stay home rather than vote for Corbett as he raised fuel taxes, expanded medicare and other RINO ways.

But the alternative, Wolf, would be disastrous for this state.

[Vigilanteman]

Yep. The “dime’s worth of difference” meme is stupid and self-defeating. If you can’t vote for Corbett, at least turn out and vote Libertarian or write-in and elect a legislature down ticket which is less likely to cooperate with the “Wolf in Jeep’s clothing.”

[Jim from C-Town]

Ohio's governor CUT those pensions, HARD> He cut Teachers pensions for future retirees, he cut state employees retirements the same way. This did TWO things. Top salaries personnel immediately retired lowering the over all cost of employees. It made the pensions solvent.

PA could have and should have done the same or more Their governor decided to raise taxes and fees hurting working people in private industry instaed of attacking the problem, Bloated government workers salaries and benefits.

[Buckeye McFrog]

I have it on good authority a number of companies are preparing to bug out of PA if Wolf wins. Particularly in the energy sector.

Nonetheless he is probably going to win. The low-infos are not blaming their rising property taxes on school boards who spend like drunken sailors. They’re blaming Harrisburg for not “fully funding” them. Idiots.

[aMorePerfectUnion]

Republicans joined with Democrats to boost pensions before the financial crisis - wanting to raise their own pensions, but lacking the courage to do so alone. They included teachers and state employees. This was told to me by a Senator who was a leader. They are all to blame. Pensions will bankrupt PA, just like the USA.

Add to this the deplorable government, taxation and business climate...

[NeoCaveman]

I wouldn’t go as far as to say Ohio is now solvent. But yes, great progress has been made.

[Flavious_Maximus]

This is why no one in government should receive a pension. They should contribute to their own 401k plan like everyone else in the private sector. Getting a government job is like winning the lottery.