19 August 2012 0 Comments

Liberty Index 2012 Appropriations Acts Part 2 – Appropriation Act 2A of 2012 PSERS

 Appropriation Act 2A June 13 SB 1473 Public School Employees’ Retirement Board – administrative expenses (PSERS)

 

Appropriation Act 2A House Fiscal Note   Appropriation Act 2Amakes an [increased] appropriation from the Public School Employees’ Retirement Fund to provide for the expenses incurred by the Public School Employees’ Retirement Board for the administration of the system for the fiscal year July 1, 2012, to June 30, 2013, and for the payment of bills incurred and remaining unpaid at the close of the fiscal year ending June 30, 2012.

Public School Employees’ Retirement Fund   Costs/(Savings)) FY 2011/12 

FY 2012/13 Inc/(Dec)
$44,107,000 $44,144,000 $37,000

 

The public sector employee’s pensions, which include the elected themselves, are an obstacle to growth, that is, an obstacle to a higher standard of living, and more jobs because money and resources are siphoned from the productive sector to the non-productive sector.

The legislature and the governor had an opportunity to address the problem but Bailed Out the Public Sector Unions and Kicked the Pension Reform Can Down the Road in 2010. See The Liberty Blog Act 120 of 2010 for details

Municipal pension crisis — ‘$6B is still a big number’  PaIndependent 27 July 2012  Eric Boehm

New figures show municipalities in Pennsylvania are facing more than $6 billion in unfunded liabilities.

That total is actually a slight improvement over where things stood two years ago, but the state and its municipalities have a long way to go.

The new numbers provide a snapshot of Pennsylvania’s roughly 1,400 municipal pension plans at the end of 2011Pennsylvania State Public Employees Retirement Commission, which oversees and analyzes state and local pension plans in Pennsylvania, compiled the report.

 

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