Regulation
Ten Facts on Pension Reform
Pension costs are ballooning, threatening to consume funds for education, public safety and welfare. Without timely reform, Pennsylvanians will face cuts to services, teacher layoffs, and higher property taxes. Yet…
Fact Sheet
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Downgrade Detrimental to Taxpayers
For the third time in two years, a major bond rating agency gave Pennsylvania a downgrade. The most recent downgrade, courtesy of Moody’s, has real implications for taxpayers. Moody’s…
Media
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Latest Credit Downgrade Hits One-Time Revenues and Pension Inaction
Contact: John Bouder, 717-671-1901 PA’s ‘Growing Structural Imbalance’ Cited in New Credit Downgrade One-Time Revenue Sources and Unfunded Pension Liabilities the Cause Good afternoon, Today, credit rating…
Press Release
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Pension Crisis Facts: Are Pension Obligation Bonds Risk Free?
This is the third in a series of blog posts debunking the myths surrounding Pennsylvania’s pension crisis. Pennsylvania’s two main government worker pension systems, the Public School Employee Retirement System…
Media
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Pennsylvania’s Pension Crisis: Myths and Facts
Pennsylvania’s two main government worker pension systems, the Public School Employee Retirement System (PSERS) and the State Employee Retirement System (SERS), are dramatically underfunded. Together these funds owe more than…
Fact Sheet
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Poor Pension Policy Could Harm Bond Rating
Last week, Moody’s Investor Service released a warning to state and local governments on borrowing to finance underfunded pension systems, commonly referred to as pension obligation bonds. The report…
Media
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Principles for Public Pension Reform
Projected taxpayer contributions for PSERS and SERS will increase from $1.7 billion in 2011-12 to more than $6.2 billion in 2016-17—a 263% increase. Contributions will continue to rise at a…
Fact Sheet
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Moody’s Sounds the Four Alarms
Yesterday, Moody’s Investor Services downgraded Pennsylvania’s bond rating one level. The downgrade implies Pennsylvania bonds are riskier than previously assessed, and it could make it more expensive for the…
Media
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Tough Questions for Pennsylvania Turnpike Commission
The PA Turnpike Commission (PTC) testified before the Senate Transportation Committee during this summer’s special session on transportation funding. Most senators on the committee expressed concern on several aspects regarding…
Media
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