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Tuesday, September 26, 2006

PA Pension Plans Underfunded

Pennsylvania's public pension plans are facing a potential crisis, according to a Report from the State Auditor.

According to the Auditor General: "The General Assembly and the governor should act immediately to head off a potential funding crisis in Pennsylvania’s two largest public pension plans, the State Employees’ Retirement System and the Public School Employees’ Retirement System. "

These findings mirror those of the Commonwealth Foundation's report Beneath the Surface: Pennsylvania’s Looming Pension & Healthcare Benefits Crisis, by Richard C. Dreyfuss, released in February.

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