Senate GOP launches new effort to overhaul pension benefits

Pennsylvania's two big pension systems face a roughly $60 billion projected debt

A new report says Pennsylvania could lose one, and possibly two congressional seats after the 2020 census.

HARRISBURG, Pa. (AP) – Pennsylvania’s state Senate is unveiling legislation to overhaul retirement benefits for future state government and public school employees in hopes of getting it to Gov. Tom Wolf’s desk this week.

A first committee vote scheduled for Sunday night comes hours after the legislation became public.

Pennsylvania’s two big pension systems face a roughly $60 billion projected debt. Senate Republicans have tried unsuccessfully for four years to end or reduce the traditional pension benefit for future state and school employees in favor of a 401(k)-style benefit. This bill would create a hybrid plan, and make the second pension overhaul in eight years.

Actuaries say it wouldn’t reduce near-term pension obligations for the state and school districts. Future state troopers and corrections officers are exempt, as are current lawmakers and public employees.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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