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Grove, Tobash to Host Town Hall on Pension Crisis
7/22/2014
YORK - Rep. Seth Grove (R-Dover), along with Rep. Mike Tobash (R-Schuylkill/Berks), will host a town hall meeting regarding the need for reform of Pennsylvania’s pension systems.

Tobash is the author of a reform plan currently under consideration in the House. The plan would enroll new employees of the State Employees’ Retirement System (SERS) or Public School Employees’ Retirement System (PSERS) in a combination of 401(k)-type and traditional pension plan. Benefits of current employees and retirees would not be affected.

Reform of the pension systems has become increasingly important as associated costs continue to grow and are expected to nearly double by 2019 from $3.4 billion to $6.6 billion. In addition, the systems face a $50 billion unfunded liability. The town hall meeting is scheduled for 6-8 p.m. Thursday, July 24, at the Dover Area High School Auditorium, located at 46 West Canal St., Dover.

“These issues are of major concern to school districts, which face skyrocketing costs associated with pensions,” Grove said. “Reforming the system could alleviate future property tax increases aimed at addressing rapidly increasing pension costs. We cannot continue down this same path ignoring this looming crisis.”

“The cost of doing nothing grows larger every day this issue is left unaddressed,” Tobash explained. “The hybrid pension plan I have proposed addresses ‘step one’ in reforming Pennsylvania’s public pension crisis. It is a proactive, commonsense approach which creates long-term savings and shifts the risk from taxpayers.”
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