Pension COLA has hefty price tag
Charles Thompson has a story in the Patriot News about the high cost to taxpayers of the propose pension COLA. The Tribune Review also had an article last week.
There are also a number of editorials across the state cautioning against the pension COLA:
- Altoona Mirror: Consider cost of pension hike
- Allentown Morning Call: State pension hike: Bad time for a bad idea
- Intelligencer: Been there, done that
- Pittsburgh Tribune Review: A new pension grab: raises or reform?
- Patriot News: It's unwise to base state COLA on funds' return
For more on this proposal, check out Rick Dreyfuss's commentary on Pension COLA's and property taxes. And for a real solution to the problems with state and local government pensions, here is a proposal to put all new employees into a defined-contribution plan.
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