– On Thursday, Rep. David Millard (R-Berwick) joined his House colleagues to pass a pension reform bill by a vote of 143 to 53. After considering pension reform for several sessions, this bill finally addresses the state’s $64 billion unfunded public pension liability.
Millard issued the following statement upon the passage of Senate Bill 1
“Our state’s unfunded pension liability has crippling effects on Pennsylvania’s financial well-being, and the passage of this pension reform bill will stop the bleeding. I am happy to see that both chambers, as well as Gov. Tom Wolf, have worked to arrive at a consensus on this incredibly important issue.
“Senate Bill 1 will save $5 billion over the long term without compromising the pension benefits of current retirees and current employees while shifting the risk from the taxpayers. This bill is not a panacea, but I firmly believe the implementation of Senate Bill 1 is a better solution than continuing the pattern of years of inaction.”
Representative David Millard
Pennsylvania House of Representatives
Media Contact: Morgan Dux