Senator Yudichak Statement on Governor Wolf Signing Pension Reform Bill into Law

Harrisburg, June 12, 2017 — Senator John T. Yudichak (D-Luzerne/Carbon) issued the following statement after Governor Tom Wolf signed pension reform (SB 1) into law:

“Pennsylvania took an important first-step today to curtail escalating pension liabilities and demonstrated that Republicans and Democrats can work together for the greater good,” said Senator Yudichak. “Pension reform is an issue of fairness for Pennsylvania’s taxpayers and the tens of thousands of public servants who have earned retirement security after a lifetime of service to the Commonwealth.”

“I voted against, and refused to accept, the pension increase of 2001 that precipitated the multi-billion-dollar pension crisis facing both the Commonwealth and our public school system,” said Senator Yudichak. “I also supported Act 120 pension reforms that rolled back benefits and increased the retirement age to stem growing unfunded pension liabilities. With the passage of SB 1, we are now on a responsible pension fund trajectory that is fair to state employees and protects Pennsylvania taxpayers with public retirement options more aligned with the private-sector.”

“As we turn to state budget negotiations, we need to continue this bi-partisan momentum to pay down the unfunded pension liability, cut property taxes and invest in economic growth strategies that create good-paying jobs all across Pennsylvania.”