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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | January 9, 2013 12:18 PM |
|---|---|
| From: | Representative Tim Krieger |
| To: | All House members |
| Subject: | Re-Introducing State Legislator's Defined Contribution Program (former HB418) |
| It is no secret that the state's pension systems are in serious distress. Over the next several years, the General Assembly may be called upon to make some difficult choices to ensure the financial soundness of the system. This may mean making some fundamental changes in how state pension systems are administered in Pennsylvania. I believe, as elected officials, that we should lead by example. Accordingly, I plan to introduce legislation that would convert members of the General Assembly from the present defined-benefit plan to a defined-contribution plan as of December 1, 2014. Unlike similar proposals, this bill would make that conversion mandatory for all members, whether new or presently serving. Showing leadership in this way will facilitate a more productive dialogue, and will hopefully enhance the General Assembly's credibility with the people of Pennsylvania. Thank you for your interest in this important piece of legislation. Previous Cosponsors of HB418: VULAKOVICH, CUTLER, EVANKOVICH, MUSTIO, QUIGLEY, SCHRODER, METCALFE, AUMENT, ROAE, HAHN, TALLMAN, DUNBAR, HUTCHINSON, REESE, MARSHALL, MULLERY, GROVE, CHRISTIANA, MURT, HARHART, SIMMONS, BLOOM, BARRAR, EVERETT, SACCONE, GABLER, BENNINGHOFF AND PYLE |
Introduced as HB413