York County House Republicans Issue Statement on Pension Report
HARRISBURG – The Public Pension Management and Asset Investment Review Commission today released its report, which includes recommendations to improve the transparency and management of investment expenses and returns of the Public School Employees’ Retirement System (PSERS) and the Pennsylvania State Employees’ Retirement System (SERS).
In response to the report, members of the York County Republican Delegation to the Pennsylvania House of Representatives, Reps. Seth Grove (R-Dover), Dawn Keefer (R-Dillsburg), Kate Klunk (R-Hanover), Keith Gillespie (R-Hellam) and House Appropriations Chairman Stan Saylor (R-Red Lion), issued the following statement:
“We commend the commission and particularly its chairman, Rep. Mike Tobash (R-Schuylkill/Dauphin), for producing a thorough report to further improve the state’s taxpayer-funded pension system and produce more savings. This evaluation lays out ways in which the systems can be placed on more solid financial footing.
“As stated in the report, there’s a potential for both retirement systems to save between $97.3 and $116.8 million each year through more cost-effective investment practices. Over 30 years, the produced actuarial savings would reach between $8.2 and $9.9 billion.
“We have a responsibility to keep the promises that are made and make sure our pension systems are sound, not only for current and future retires but for all taxpayers. As policymakers, we look forward to further examining these potential savings and other recommendations mapped out in the report as we enter the 2019-20 session.”
York County Republican Delegation
Pennsylvania House of Representatives
Media Contact: Greg Gross
717.260.6374
ggross@pahousegop.com