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Memorial Day

By at May 29, 2016 | 10:51 pm | 0 Comment

Memorial Day

Many people confuse Memorial Day and Veterans Day. Memorial Day is a day for remembering and honoring military personnel who died in the service of their country, particularly those who died in battle or as a result of wounds sustained… Read the rest

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Calculation of the Combined PSERS & SERS Unfunded Liability Rolled Forward to May 2, 2016

By at May 24, 2016 | 12:23 am | 0 Comment

Data assembled by Richard Dreyfuss, Independent Consultant

Presented by Eric Epstein on May 9, 2016

PSERS estimates its asset value using a 10 year rolling average which is allowed under Act 120.

The actuarial standard for… Read the rest

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Eric Epstein of RTC and Rick Dreyfuss on new pensions

By at May 24, 2016 | 12:18 am | 0 Comment

Listen to Hour 2

Listen to Hour 3

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Revised Pension Estimate for Rep. Mark Cohen

By at April 29, 2016 | 11:11 pm | 0 Comment

FOR IMMEDIATE RELEASE

April 29, 2016

Revised Pension Estimate for Rep. Mark Cohen

Rock the Capital learned last night that the formula used to project Mr. Cohen’s pension used a 1.25% multiplier rather thanRead the rest

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Featured , Pennsylvania Issues , Political , Watch Dog

Pension Payments to Rep. Mark Cohen

By at April 28, 2016 | 10:51 pm | 0 Comment

Enclosed please find data relating to the projected pension pay out to Rep. Mark Cohen (D-Philadelphia) who was defeated on April 26, 2016. Rock The Capital filed Right to Know requests with the State Employees’ Retirement System (“SERS”) on Wednesday,… Read the rest

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Pension Clock: Eric Epstein’s Remarks

By at March 7, 2016 | 12:59 pm | 0 Comment

Pension Clock: Eric Epstein’s Remarks

This display represents a visual accounting of four failures:

First, there is constitutional delinquency.  Borrowing against the pensions, forbidden by our constitution, has been the defacto policy of Pennsylvania’s state government since 2003;

Second, as the credit rating downgrades have… Read the rest

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Pennsylvania Pension Debt Clock

By at February 24, 2016 | 8:29 pm | 0 Comment

Pennsylvania Pension Debt Clock

  • Fact: Fifteen years ago Governor Ridge signed into law Act 9 with overwhelming support  from the legislature.
  • Fact: The legislation did not provide a revenue mechanism to fund increased benefits.
  • Fact: Act 9 is not going to be repealed,

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Release of Legislative Audit for 2015

By at January 5, 2016 | 11:14 pm | 0 Comment

January 5, 2016

Representative Mark Keller
Chairman, Legislative Audit Advisory Commission
Room 108, Ryan Office Building
P.O. Box 202086
Harrisburg, PA 17120-2086
717-705-7012 (fax)

Dear Chairman Keller:

In recent years, Pennsylvania citizens have… Read the rest

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Watch Dog

State by State Budget Comparison for FY 2015 and FY 2016

By at December 29, 2015 | 6:46 pm | 0 Comment

Group Proposes Solutions to Avoid Future Impasses

December 29, 2015

(Harrisburg) – Rock the Capital released a state by state comparison of budget data that includes the following:

  • Target date for passing the budget.
  • Date

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Featured , Pennsylvania Issues , Political

Kitchen cabinet

By at December 22, 2015 | 5:43 pm | 0 Comment

by Andrew Staub

Gov. Tom Wolf campaigned on a promise he’d be a “different kind of governor,” but his most recent nomination raised concerns that political patronage is afoot.

Wolf late Friday afternoon announced he had nominated Michael Newsome, a… Read the rest

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