|Posted:||January 6, 2017 01:35 PM|
|From:||Representative Warren Kampf|
|To:||All House members|
|Subject:||Future State and School District Employees Defined Contribution Plan, Previous HB 727|
|Colleagues, our public pension crisis continues to deepen as the days go by. I know you are as aware of this as I am but, in my opinion, we have so far failed to do the one thing that would demonstrate to our constituents we can learn from this crisis—for future hires end the very plans that have played a large role in why we are in a crisis today.
I again urge you to join me in supporting and passing a pure Defined Contribution plan for 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 future state employees. Another part would create a mandatory DC plan for 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.
I hope there will be action on this plan in coming months, and I want you to know I am again committed to meaningful pension reform. What I am not open to is hoping everything will turn out just fine by doing nothing. Join me in this important effort by co-sponsoring this legislation.
Please contact my office if you should have any questions. 717-260-6166
Previous Co-Sponsors: TURZAI, MAJOR, CUTLER, TOBASH, BENNINGHOFF, REGAN, METCALFE, DIAMOND, BLOOM, MILLARD, SACCONE, GREINER, DUNBAR, LAWRENCE, QUIGLEY, KAUFFMAN, TOPPER, COX, EMRICK, TOEPEL, F. KELLER, SAYLOR, GABLER, A. HARRIS, HELM, TALLMAN, GROVE, SANKEY, MALONEY, HICKERNELL, MENTZER, CHRISTIANA, EVANKOVICH, KNOWLES, SIMMONS, JAMES, MASSER, FEE, MURT, HENNESSEY, TOOHIL, BARRAR, GILLESPIE, EVERETT, MOUL, ROAE, RAPP, PHILLIPS-HILL, SCHEMEL, RADER, MILLER, MCGINNIS AND KLUNK.
Introduced as HB12