Monday, June 14, 2010
From John Curry, June 14, 2010
"The Pennsylvania School Board Association, meanwhile, is asking state lawmakers to change the retirement benefits for new hires in the system. The Pennsylvania State Education Association, which represents teachers, opposes the idea."
Officials grapple with looming Pa. pension problem
EASTON, Pa. - Despite a lot of talk across Pennsylvania about a looming pension crisis, there is no consensus among officials, teachers and taxpayers about how to solve the problem.
School districts over the next five years are expected to see the amount of money they pay into the Public School Employees' Retirement System balloon from 4.78 percent of payroll to almost 34 percent in 2014-2015.
School districts argue they can't swallow the upcoming rate hike without decimating services and raising taxes. Taxpayers are unhappy at the prospect of making up pension fund losses when their own retirement funds have been depleted. But teachers argue that a pension is important to attract and keep good teachers in the commonwealth.
The Pennsylvania School Board Association, meanwhile, is asking state lawmakers to change the retirement benefits for new hires in the system. The Pennsylvania State Education Association, which represents teachers, opposes the idea.
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