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Part 1: The Taxpayer Chain Gang

By at June 20, 2016 | 7:19 am | 0 Comment

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

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Featured , Political

Pennsylvania’s Pension Liability Climbs to Over $66 Billion: No Solution in Sight

By at June 1, 2016 | 10:33 am | 0 Comment

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

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Featured

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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Featured

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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Featured

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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Featured

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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Featured

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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Featured

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,

Read the rest

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Featured

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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