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PA House Passes Pension Relief

dollarPennsylvania State Education Association Treasurer Jerry Oleksiak says the state House of Representatives recently passed a Pension Relief Act, aimed at heading off a coming crisis in the pension plan for state employees and public school teachers. He says it’s a reasonable compromise.

“We’ve worked very hard with the legislature to find ways to make some adjustments and I think we have, and I think the fact that the bill passed the house overwhelmingly is a significant sign that we took it seriously and the legislature took it seriously.”

Oleksiak says the main thing the bill does is spread out pension payments over a longer period of time.  It also increases the employee contribution from 7.5 percent to a little over 10 percent and extends the vesting period for new employees from 5 years to 10.  He says the bill won’t take the pension crisis away, but it will help, and a continuing stock market recovery will also help.  He appeared Tuesday on the WNPV talk program Comment Please by Univest.
WNPV AM 1440 As you plan your shopping for Friday ... and Small Business Saturday ... be sure to include some of the locally owned and operated businesses in our area because, according to the Institute for Local Self-Reliance (www.ilsr.org), locally owned businesses create more jobs locally and, in some sectors, provide better wages and benefits than chains do! "Shop Locally for the Holidays!"
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies
WNPV AM 1440 Planning to shop on Friday? How about Small Business Saturday? As you make your plans be sure to include some of the locally owned and operated businesses in the area! According to the Institute for Local Self-Reliance (www.ilsr.org) there are "10 Reasons to Support Locally Owned Businesses." #5: Entrepreneurship. Entrepreneurship fuels America's economic innovation and prosperity and serves as a key means for families to move out of low-wage jobs and into the middle class. Shop Locally for the Holidays!
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies
WNPV AM 1440 As you plan your holiday shopping, think about the "Top 10 Reasons to Support Locally Owned Businesses" from the Institute for Local Self-Reliance (www.ilsr.org): Public Benefits and Costs. Local stores in town centers require comparatively little infrastructure and make more efficient use of public services relative to big box stores and strip shopping malls.
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies
WNPV AM 1440 As you plan your holiday shopping, think about the "Top 10 Reasons to Support Locally Owned Businesses" from the Institute for Local Self-Reliance (www.ilsr.org): Environmental Sustainability. Local stores help to sustain vibrant, compact, walkable town centers which in turn are essential to reducing sprawl, automobile use, habitat loss, and air and water pollution. "Shop Locally for the Holidays!"
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies
WNPV AM 1440 As you plan your holiday shopping, think about the "Top 10 Reasons to Support Locally Owned Businesses" from the Institute for Local Self-Reliance (www.ilsr.org): Competition. A marketplace of tens of thousands of small businesses is the best way ensure innovation and low prices over the long-term.
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies
WNPV AM 1440 As you plan your holiday shopping, think about the "Top 10 Reasons to Support Locally Owned Businesses" from the Institute for Local Self-Reliance (www.ilsr.org): Product Diversity. A multitude of small businesses, each selecting products based, not on a national sales plan, but on their own interests and the needs of their local customers, guarantees a much broader range of product choices. "Shop Locally for the Holidays."
Institute for Local Self-Reliance ilsr.org Building Community, Strengthening Economies

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