PA public pensions’ future may mean even higher taxpayer costs
Major private-sector pensions, investment experts suggest lowering rates
By Eric Boehm | PA Independent | March 30, 2012 |
HARRISBURG — Pennsylvania’s two public pension systems have a combined unfunded liability of about $37 billion, but because of the way the liability is calculated, the actual amount to be paid in coming years is likely higher.
If the funds used assumed rates of return in line with the private sector and as suggested by investment consultants, the actual liability exceeds $50 billion.The state’s two pension systems — the Public School Employee Retirement Commission, or PSERS, and the State Employees Retirement System, or SERS — are funded by state taxpayers, employees in the system and investment returns. See the full story here:
Monday May 27th
Memorial Day Specials
Remember to Fly the Flag!
Tuesday May 28th
79th District State Rep. John McGinnis
on The State Budget
Wednesday May 29th
Business Spotlight
The Roaring Spring...
Oak Dining Room Table,
in great condition, includes six high back
dining room chairs with blue cushions,
- asking $350 or best offer
Josephine, Altoona 946-3481
Andersen Windows,
used but very good condition,
62" H x 72" W, 6 units, 2...
I would've just posted this on Facebook, but Facebook doesn't allow you to post GIFs (like this little animation).
Maybe the $1.1 BILLION price tag isn't so crazy?
