Pennsylvania Votes Forum

This would implement Gov. Rendell's deferral of payment on state pension obligations.

An actuarial note attached to the bill by PERC (the PA Public Employee Retirement Commission) estimates that the higher costs in later year will far outweigh the contribution reductions in earlier years - to the tune of an astonishing $52 billion over 30 years. That is an additional $52 billion that taxpayers - through higher state and school property taxes - will have to fork over to pay off the pension obligations, and this assumes an 8% annual return on investment.

The only excuse for hanging onto the defined benefit plans would be a lack of courage to tell the truth about the disaster that is ahead. HB 2497 does nothing about the funded ratio, except make it worse. I can understand why most House members voted for it. HB 2497 is a cynical ploy to con the taxpayers into thinking that the House has come up with a magical solution. Taxpayer contributions are decreased! Praise them! Laud them! They have saved us...BS!

The truth is that the way out is clear, very clear. We must have defined contribution plans. It is the best and only real solution to this mess. States with leaders know this, and are doing it.

John F. Brinson, Chairman  Lehigh Valley Tax Limitation Committee

The enormous ruse of HB 2497 is intensified when you take a look at a few member's campaign financial reports. See how much money was given by PSEA to Dwight Evans and others immediately prior to this vote in the House.

The time for a public uprising is now: http://www.youtube.com/watch?v=M0aUL3V4J7w

In regard to House Bill 2497 and the changes in retirement system for teachers, PA voters need to consider all facts.  Higher taxes   alarm most people, especially in economically distressed times; however, Pennsylvania citizens need to consider what their taxes buy. A good educational system is the major selling point for most realtors.  Although it sounds like a cliche, "You buy K-Mart; You get K-Mart."  Stripping the retirement system will only discourage the best qualitied young people from either avoiding educational careers completely or avoiding teaching in Pennsylvania. Altering the retirement system, as House Bill 2497 does, essentially attempts to maintain an inviting atmosphere, so qualified young people will continue to pursue educational careers.  It's sad that taxpayers can embrace the idea of compensation for quality people in the corporate world, however, reject the idea for the academic world.  If the brightest students opt to avoid pursuing  careers in education, only the mediocre will be left to teach our children.  I for one, do not want my child taught by someone who is average or below average in ability.  Through some reseach I found some interesting (disturbing) facts.  The fact is that teachers have always been contributing their fair share into the retirement fund; however, ten years ago the state informed school districts that they could opt out of contributing to the fund if they wanted because the fund was (at that point) very financially sound.  The advice was foolish.  The lack of school contributions greatly contributed to the current short fall. Now, that shortfall must be adjusted.  There are numerous ways in which that could be accomplished.  It need not be solely in higher taxes.  One idea might be to tap into the gaming table profits.  We pay our legislator to consider all viable options.  Now would be the time for them to do that.  Bill 2497 is a just bill.  Legislators need to find a way to fund it without over-burdening the individual tax payer.  The state helped to create this problem by giving school districts the option of not contributing to the fund, so the state legislators should be held accountable and find a reasonable solution that will ensure that PA tax payers maintain quality teachers.  Our children should not have to suffer for our state's mistakes.