This is worth a read, since pensions do affect the school budget. Public school employees need to be switched to a defined contribution plan, rather than the existing defined benefit plan.
Press Release from Tom Corbet, Pennsylvania Governor
Harrisburg – Governor Tom Corbett [on June 14th] sent an open letter to Pennsylvanians in support of pension reform. The letter was submitted to newspapers statewide.
To the People of Pennsylvania:
Since taking office as your governor, I have made public pension reform one of my top legislative priorities. Pennsylvania is in the midst of a pension crisis. Pennsylvania’s two public pension systems, the State Employee Retirement System (SERS) and the Public School Employees’ Retirement System (PSERS), are badly in debt. This is a problem that was waiting for me when I took office, but one I am determined to fix.
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