Contrary to the claim that the Senate GOP plan will help fix Pennsylvania’s pension problem, the plan does nothing to address our $58 billion pension deficit. Instead, Senate Bill 1 exacerbates the disaster we really face: the retirement crisis.
Let’s make this simple. Pennsylvania will see a large share of our population retire in the next 40 years. We have the second highest population of retirees over the age of 65, and that number is growing. Many retirees will live beyond age 80.