Also, because the current plans rely on earnings from investing the money contributed by employees and employers, over time the amount of money which can be invested will decrease since new employees are no longer included. This will destabilize the current plans and will result in additional cost to taxpayers.
Governor Corbett should be proposing additional revenue sources to provide stable and adequate funding to public schools and to live up to the government's obligation to properly fund the existing retirement systems. More detailed information regarding the pension issue may be found at keystoneresearch.org/pensions.
David B. Kyle, New Columbia