UPDATE: Kampf's Pension Reform Plan Will Go Before House for Vote

“I am pleased to announce that the House Human Services Committee voted to send my public pension reform bill, House Bill 1353, to the full House for final consideration when we return from our recess in the fall.  This is the second standing House committee this session that has approved this legislation.

“This vote again positions the legislation, which creates a defined contribution plan for all new hires, to again be considered by the whole House.

“I am grateful to the members of both parties on this committee who made this bi-partisan vote today, and I am grateful to all those in the House who worked to set us on the right track.”

“I am upset, frustrated and deeply disappointed.  The General Assembly had an opportunity to show true leadership on behalf of the people who elected us.  We had an opportunity to help avert a crisis.  However, a majority of my House colleagues chose to play partisan politics and allow special interest groups to stop much-needed commonsense reform.

“Taking no action while our pension systems are underfunded by nearly $50 billion is irresponsible and fails to strengthen or guarantee the benefits of those currently in the system, puts the future of our school districts in jeopardy, and does not help taxpayers. 

“I understand that change is hard and that the special interest groups that benefit by the status quo are relentless, but we were elected to lead and do what is in the best interest of the constituents we represent and the Commonwealth as a whole. This week, we missed that opportunity, and I cannot hide my disappointment in the manner this issue has been ignored and passed off for others to solve. 

“House Bill 1353 is a fair proposal that would have removed a huge burden from taxpayers, protected the retirement benefits of current enrollees, helped school districts, and saved the Commonwealth over $11 billion in long-term liabilities.

“Ignoring this issue and allowing the crisis to continue spiraling out of control is an insult to the taxpayers of our state.  By doing nothing, the people who derailed this reform effort only hurt their schools, their municipalities and their communities.  

“Know that I will continue working to pass reasonable pension reforms to protect the benefits of current retirees, the quality of our schools and the taxpayers of Pennsylvania.”

What do you think the General Assembly should do about public pension systems? Let us know in the comments below.