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Pennsylvania State Senate
06/08/2024 09:41 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?SPick=20230&chamber=S&cosponId=39232
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Senate of Pennsylvania
Session of 2023 - 2024 Regular Session

MEMORANDUM

Posted: January 11, 2023 10:16 AM
From: Senator Jarrett Coleman
To: All Senate members
Subject: Pension Reform: Newly Elected Senators
 
Pennsylvania’s State Employee Retirement System has BILLIONS of dollars in unfunded liabilities. The best way to prevent a hole from getting deeper is to stop digging. The Pennsylvania Senate can take an important step and show leadership on this issue by making a change to the benefit options available to future members of our chamber.
 
In the near future, I will introduce legislation that will require Freshman Senators elected in 2024 and after to enroll in the defined contribution plan. This change will not impact current members of the Senate or individuals currently enrolled in SERS.
 
I hope that you will join me in sponsoring this critical legislation.
 
 


Introduced as SB699