Browsing Posts of Author

Exelon Announces TMI Closure – As the Nuclear Age Draws to an End

By at May 31, 2017 | 1:17 pm | 0 Comment

PRESS STATEMENT

May 31, 2017

David A. Kraft, Director, NEIS

 

Exelon Announces TMI Closure – As the Nuclear Age Draws to an End

It’s not nearly

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FAQ: The Pension Debt Clock

By at February 7, 2017 | 10:41 pm | 0 Comment

by Richard Dreyfuss

What is a defined benefit pension plan?

A defined-benefit (DB) pension plan provides formula-based monthly benefits to qualifying members at retirement.

The technical term for these benefit payments is an “annuity”.

Generally, members are required to contribute… Read the rest

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Re: CalSTRS to cut assumed rate of return to 7%

By at February 7, 2017 | 6:13 pm | 0 Comment

by Richard Dreyfuss

CalSTRS – the California counterpart to PSERS is lowering their annual assumed investment rate-of-return from 7.5% to 7%.  CalSTRS has about 4X the assets under management compared to PSERS.

Note the observation that using 7.25%, the California… Read the rest

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Pension Debt Clock – Press Briefing 1/24/17 – State Capitol

By at January 25, 2017 | 1:28 pm | 0 Comment

by RC Dreyfuss

I would like to take 10 minutes to share my perspectives as a retired HR executive & actuary (>35 years). I am currently a self-employed consulting resource to several public policy organizations.

I appreciate Barry (Shutt’s) friendship… Read the rest

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Two Guys from York

By at December 19, 2016 | 6:26 pm | 0 Comment

by Barry Shutt

My name is Barry Shutt. I’m a nobody.  Just an old retired guy trying for the last two an a half years to draw attention to Pennsylvania’s growing pension debt crisis with the hope that someone in… Read the rest

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Should Allentown keep the NIZ surplus?

By at December 19, 2016 | 6:21 pm | 0 Comment

After giving $144 million in tax subsidies to developers and the PPL Center for the last four years, Allentown’s Neighborhood Improvement Zone is expected for the first time to generate more tax money than it did before the NIZ opened.… Read the rest

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Nuclear Power Is Not “Green Energy”: It Is a Fount of Atomic Waste

By at December 19, 2016 | 5:29 pm | 0 Comment

Starting in 1971, I became a card-carrying member of the “nuclear priesthood.” I began as a licensed nuclear reactor operator and progressed through the industry to become a senior vice president. I believed, with religious fervor, that by helping to… Read the rest

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What Happened to House Bill 1947?

By at October 27, 2016 | 3:41 pm | 0 Comment

By Rep. Mark Rozzi

The Altoona/Johnstown Diocese grand jury report released in March about the wholesale abuse of innocent children by depraved predators, finally unleashed the public outrage that had been missing for over a decade.    The powers-that-be covered up… Read the rest

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On verge of shutdown, PA’s straggling horse-racing industry could get more help

By at May 24, 2016 | 12:15 am | 0 Comment

by Andrew Staub

Pennsylvania’s wilting horse-racing industry can no longer support the fund that pays to oversee the sport, a development that could lead to a shutdown by late November.

Yet the races could go on, through Thanksgiving and thereafter,… Read the rest

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PA Pension Debt has passed $66 billion

By at May 6, 2016 | 11:32 am | 0 Comment

PA Pension Debt has passed $66 billion

Pennsylvania’s Pension Debt has now passed $66 billion.   The new figure is a revision using the 12/31/15 State Employees Retirement System (SERS) report.  Prior to its release, the “clock” was based on the 12/31/14 report and adjusted as accurately as… Read the rest

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