The Tribune-Democrat
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We don’t know a whole lot about state Rep. Tim Krieger, a Westmoreland County Republican, but we’re supportive of his latest piece of legislation. And you should be, too.
Krieger, of Connellsville, a member of the House only since 2009, is on a mission to rid the Legislature of those exceptional pension benefits most of us believe to be terribly wrong.
His legislation is part of a Republican plan to overhaul the state system, including cutting the size of the House and Senate and privatizing liquor sales, among other issues.
According to Pennsylvania Independent, Krieger’s bill would move all members of the General Assembly from defined benefit pension plans to 401(k)-style defined contribution plans.
That includes current members.
We expect veteran members in the House and Senate will not welcome the bill with open arms, and we encourage our readers to inform their state legislators that they want this to happen – if not Krieger’s specific plan, then a plan that accomplishes the same results.
While you’re at it, write or call your representatives in Congress; tell them about the pension-bill movement in Pennsylvania, and demand federal representatives and senators do likewise.
It’s time to stop the obscene notion that those who work for us are entitled to give themselves better pension and health-care plans than we have.
Don’t you agree?
“It is no secret that the state’s pension systems are in … distress,” Krieger wrote in a memo to other lawmakers asking for support of his bill.
“I believe, as elected officials, that we should lead by example.”
Absolutely. How refreshing.
Lawmakers over the years have accumulated top-tier benefits, including some of the best pensions in the state.
The current formula calculates lawmakers’ pensions based on 3 percent multiplied by their years of service and their three highest annual salaries. It requires only five years of service to become vested in the pension system.
Legislators are members of the Pennsylvania State Employees’ Retirement System, which is facing an official unfunded liability of more than $10 billion. An unfunded liability is the earned benefits that cannot be covered by the existing assets of the pension system.
Analysts say that, unfortunately, Krieger’s bill will do little to fix the current problem.
If Krieger’s bill is passed and signed by Gov. Corbett, the changes would take effect following the next election.
The entire state House is up for re-election in 2012, along with half of the state Senate.
Here’s how PA Independent explains the new plan:
Members would be eligible for a matching contribution of up to 4 percent, but the guaranteed benefits of the current system would be gone.
At the end of the 2012 term, and 2014 for half the state Senate, lawmakers’ accrued pension benefits in the current system would be frozen and they would receive those benefits when they retired.
They would no longer contribute to them and would not gain additional benefits for additional years of service.
In other words, the changes would be included going forward, and we believe that to be only fair.
Krieger obviously is among those newer legislators we’ve sent to Harrisburg over the past two elections with campaign promises of slashing or ending big government.
We’re glad he’s apparently keeping his word. But obviously he’ll need a lot of support to get his legislation into law.
Having a say
Get in touch with Rep. Tim Krieger online at http://repkrieger.com; write his office at B14 Main Capitol Building, PO Box 202057, Harrisburg, Pa. 17120-2057; or call him at (717) 260-6146.
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