Tobash’s Hybrid Pension Plan Passes House Committee
5/17/2016
HARRISBURG – On Tuesday afternoon, the House State Government Committee voted in favor of Rep. Mike Tobash’s (R-Schuylkill/Dauphin) legislation to establish a reformed retirement benefit plan, containing both defined benefit and defined contribution components, for future state and public school employees. After the vote on House Bill 1499, Tobash made the following statement:

“Pennsylvania continues to face a more than $50 billion public pension debt that is only going to keep growing, unless we enact meaningful pension reform. Fundamentally, it’s not responsible public policy to continue with the system we have now. A vote in favor of public pension reform is a vote in favor of a better financial future for Pennsylvania, and I was encouraged by the committee vote today.

“At the Public Employee Retirement Commission (PERC) meeting today, we learned this bill will save approximately $9.9 billion over a 30-year period. These are real dollars for real taxpayers. Not only would it save money, but it also begins to shift the risk away from taxpayers.

“This bill seeks to stop the bleeding from within the current systems. It’s the first step in making progress with this massive issue. The changes included with this plan would only affect new employees. Current employees already in the system would not be affected by this legislation.”

For more information about Tobash’s House Bill 1499, or any other state-related issue, contact Tobash’s district office in Schuylkill Haven located at 988 East Main St., by calling 570-385-8235. Information can also be found online at RepTobash.com or Facebook.com/RepTobash.

Representative Mike Tobash
125th District
Pennsylvania House of Representatives

Media Contact: Krisinda Corbin
717.705.2032
kcorbin@pahousegop.com
RepTobash.com / Facebook.com/RepTobash
Share |