VIDEO New PA Pension Plan Goes Into Effect

Credit: WFMZ Allentown, PA
Published on October 6, 2019 -
VIDEO New PA Pension Plan Goes Into Effect
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VIDEO New PA Pension Plan Goes Into Effect

Hour.

>>>jim vaughn: pennsylvania's overhauled pension plan for most new state employees is now in effect.

New public workers no longer get full guaranteed pensions backed by taxpayers.

The new law creates a new retirement plan that doesn't carry as much risk for ?a residents.

Instead... hal* the retirement savings go into a fund backed by taxpayers... while the other half goes into a private 40?k.

The wolf administration says the move reduces risks... and cuts costs.

It's expected to save taxpayers at least 4?

Million dollars per year for

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