PRINTER'S NO. 2004
No. 309 Session of 2008
INTRODUCED BY WONDERLING, PIPPY, STOUT, D. WHITE, ORIE, COSTA, WOZNIAK, BAKER, FOLMER, RAFFERTY, BOSCOLA AND VANCE, MAY 1, 2008
REFERRED TO FINANCE, MAY 1, 2008
A RESOLUTION 1 Directing the Legislative Budget and Finance Committee to 2 conduct a fiscal impact study on the pension and 3 postretirement health benefits of the Pennsylvania Public 4 School Employees' Retirement System and the Pennsylvania 5 State Employees' Retirement System. 6 WHEREAS, It is an accepted economic development strategy to 7 attract and retain retirees; and 8 WHEREAS, Retired members of the Pennsylvania Public School 9 Employees' Retirement System and the Pennsylvania State 10 Employees' Retirement System receive pension annuity payments, 11 and many are eligible to have health insurance premium payments 12 subsidized by Commonwealth funds; and 13 WHEREAS, In the 2006-2007 fiscal year, pension annuity 14 payments for the Pennsylvania Public School Employees' 15 Retirement System and the Pennsylvania State Employees' 16 Retirement System totaled approximately $6,100,000,000; and 17 WHEREAS, Many annuitants reside in this Commonwealth and have 18 significant economic impact on this Commonwealth; therefore be 19 it
1 RESOLVED, That the Senate direct the Legislative Budget and 2 Finance Committee to study the value added, earnings generated 3 and employment generated by the expenditure of pension annuity 4 payments by the Pennsylvania Public School Employees' Retirement 5 System and the Pennsylvania State Employees' Retirement System 6 and by the expenditure of Commonwealth funds subsidizing health 7 insurance premium payments; and be it further 8 RESOLVED, That the committee be empowered to hold hearings, 9 take testimony and make its investigations at such places as it 10 deems necessary in this Commonwealth, and that each member of 11 the committee have power to administer oaths and affirmations to 12 witnesses appearing before the committee; and be it further 13 RESOLVED, That the committee issue its study to the Secretary 14 of the Senate by November 30, 2008. D24L82VDL/20080S0309R2004 - 2 -