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Those Were the Days

By at July 18, 2018 | 8:14 pm | 0 Comment

by Barry Shutt The Pennsylvania Legislature remains true to its basic tenet: receiving full time pay, while serving only part-time.   With an election year budget executed and signed into law eight days early (June 22), Members of the Legislature have disappeared; and will make cameo appearances in Harrisburg for only 10 legislative days between now […]

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The Dead-End Kids of Pennsylvania

By at February 9, 2018 | 4:29 pm | 0 Comment

by Barry Shutt You see them everywhere.  At Panera, mom carries one while towing a toddler by the hand as the toddler looks around in wonder at the strange people staring at her. There’s a child not yet born, filling out the dress of the soon-to-be mother who sits uncomfortably in a chair, watching with […]

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Another Labor Voice Silenced

By at November 20, 2017 | 8:58 pm | 0 Comment

Today is a sad day in the Labor radio world as we mourn another outlet for worker based news and information being silenced due to falling revenue. That outlet, Worker’s Independent News, went dark today for the first time after nearly 2 decades of providing daily 3-minute news clips for broadcast on programs like mine. […]

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Baby boomers: The “greediest generation?”

By at September 20, 2017 | 1:40 pm | 0 Comment

by Amanda St. Hilaire, ABC27 Somebody’s gotta pay for all those unicorns. Fiscal watchdogs say baby boomers just gave Pennsylvania’s pension reform “can” a swift kick down the road, and the younger generations are stuck with the tab. Eric Epstein from Rock the Capital and pension reform advocate Barry Shutt join Dennis Owens and Amanda St. Hilaire for this week’s episode of On […]

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Let Them Eat Cake Press Conference

By at September 12, 2017 | 10:01 am | 0 Comment

Media Advisory Barry Shutt: 717-943-2880   Let Them Eat Cake Press Conference September 12, 2017   “Let them eat cake” is a phrase often attributed to Marie Antoinette of France when told the populous of France could not even afford bread to eat.  The critical implication of that quote was that she and the French […]

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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 as much ironic as it is emphatic that on the same day Exelon Corporation announced that it might close the economically unviable Three Mile Island 1 reactor in […]

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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 a fixed percentage of their pay to participate in the plan. Annual employer (taxpayer) contributions […]

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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 consultant concluded the plan had a less than 50% chance of meeting that expectation. Here […]

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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 as I acknowledge his steadfast commitment to this critical issue – measured both by his […]

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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 Harrisburg would rise up and do something that would address the problem. In 2014 I […]

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