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Looking to Protect Taxpayers, Roe Votes in Favor of Pension Reform
6/9/2017
HARRISBURG - In an effort to look out for taxpayers and public employees, Rep. Eric Roe (R-Chester) voted in support of legislation that would save the Commonwealth over $5 billion long term.

Senate Bill 1, which passed the House 143-53, would reform the current Pennsylvania pension system.

“If we did nothing to the current pension systems, current retirees will continue to face concerns over earned benefits being available to them,” said Roe. “With this historic vote, we are going to sustain the pension systems and dramatically decrease taxpayers’ obligations over time.”

An additional $3 billion in savings is also projected as a result of reduced costs and fees for investment management.

The bill will move all newly hired public employees off the pension plans that are mostly funded by taxpayers. It will give workers the option of choosing between the following three retirement systems:

  • A side-by-side defined benefit/defined contribution hybrid plan with a 1 percent accrual rate.
  • A side-by-side defined benefit/defined contribution hybrid plan with a 1.25 percent accrual rate (this will be the default plan if no selection is made by the employee).
  • A defined contribution-only option.
The defined contribution plan is portable, meaning employees can take their plan with them if they leave state employment before retirement.

“This vote is the right decision for taxpayers, public employees, and future generations in Pennsylvania,” said Roe.

The bill now awaits Gov. Tom Wolf’s signature.

For more information on Representative Roe, visit RepRoe.com, or visit facebook.com/repericroe for more legislative content.

Representative Eric Roe
158th Legislative District
Pennsylvania House of Representatives

Media Contact: Mike Madry
717.260.6587
mmadry@pahousegop.com
RepEricRoe.com / Facebook.com/RepEricRoe



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