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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[...read more]
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[...read more]
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[...read more]
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[...read more]
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[...read more]
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[...read more]
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[...read more]
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[...read more]
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[...read more]
by A. Sniveling Malcontent
Recently Harrisburg denizens heard the early sounds of discontent about the way legislative and Congressional districts are drawn every 10 years after the national census. Our current system, approved by voters following the… Read the rest[...read more]