Pittsburgh Post-Gazette: Hold up on the pity party over the state House’s refusal to return for a vote on Pennsylvania’s public employee pension crisis. The real tears should have been shed in the summer, when it became clear that House Bill 2497 didn’t solve the $4 billion funding problem, but only kicked it down the road by a few years.
Although the plan was passed by the House and amended by the Senate, it will die for lack of House concurrence when the General Assembly’s two-year session expires in three weeks. To which we say good riddance.
While the bill, offered by Democratic Rep. Dwight Evans of Philadelphia, was purported to alleviate the revenue shortfall looming for the retirement funds of state workers, school employees and state elected officials, it would have taken too little action when great steps are needed… (more)
Does anyone disagree that all public employees should switch over to a 401k system like the rest of us?