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04/18/2024 07:45 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20150&cosponId=16754
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: January 16, 2015 02:11 PM
From: Representative Warren Kampf
To: All House members
Subject: Future State and School District Employees Defined Contribution Plan
 


Colleagues, our public pension crisis only deepens as the days go by. I know you are as aware of this as I am but, in my opinion, we have failed these last several years to do the one thing that would demonstrate to our constituents we can learn from this crisis—end the very plans that have played a large role in why we stand where we do today.

I again urge you to join me early this session in supporting and passing a pure Defined Contribution plan for all new hires to the state and school district payrolls. Please consider co-sponsoring this legislation which I will be introducing very soon.

One part of the legislation would create a mandatory Defined Contribution (“DC”) plan for all future state employees. Another part would create a mandatory DC plan for all future school district employees. The new DC plans would include a 4% employer match and a mandatory employee contribution. These are the types of retirement plans the vast majority of our constituents have in their own lives. These are the types of plans that businesses all across our country include in their budgets without facing huge shocks that cannot be planned for. At a minimum, I think our constituents want us to adopt these kinds of plans in the public sector to demonstrate we respect what goes on in the private sector and we can appreciate the growing havoc public pension systems have created all across the country.

I hope there will be much discussion on the subject of reform in the next several weeks, and I want you to know that I for one am open to ideas about ways to tackle the problem. What I am not open to is hoping everything will turn out just fine by doing nothing. Thank you for your consideration.

Please contact my office if you should have any questions. 717-260-6166

Previous Co-Sponsors: TRUITT, AUMENT, MILLARD, BLOOM, GROVE, SACCONE, GINGRICH, METCALFE, DUNBAR, STEVENSON, HARPER, REGAN, LAWRENCE, HICKERNELL, EVERETT, MASSER, GABLER, MUSTIO, F. KELLER, KILLION, EVANKOVICH, MOUL, CUTLER, MALONEY, TURZAI, TOBASH, ROAE, HELM, COX, SWANGER, KNOWLES, EMRICK, MENTZER.



Introduced as HB727