Browsing Posts of Author
by Jeff Coleman and Eric J. Epstein
An old and misguided political adage claimed that Democrats built schools and Republicans built prisons. It’s simply not true, and the reality is much more complex.
It would be far more accurate to… Read the rest[...read more]
by Eric Epstein and researched by Richard Dreyfuss,
Pennsylvania’s pension time bomb continues to grow despite the rhetoric kicked around the Capitol. Official “figures” tend to not fully account for the magnitude of the problem. Pennsylvania’s pension funding standards are… Read the rest[...read more]
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[...read more]
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[...read more]
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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 than… Read the rest[...read more]
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[...read more]
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[...read more]
- 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- Fact: Act 9 is not going to be repealed,
January 5, 2016
Representative Mark Keller
Chairman, Legislative Audit Advisory Commission
Room 108, Ryan Office Building
P.O. Box 202086
Harrisburg, PA 17120-2086
Dear Chairman Keller:
In recent years, Pennsylvania citizens have… Read the rest[...read more]