PSEA tells legislators to 'Keep the Promise'
PSEA President Jim Testerman on December 16 delivered a a clear message to state lawmakers: protect public school employee pensions.
In testimony before the Senate Finance Committee during a public hearing on pensions, Testerman emphasized four key facts that legislators should keep in mind as they consider ways to address a future increase in employer contributions to the Pennsylvania School Employees’ Retirement System (PSERS).
1. Public school employees’ current defined benefit pension plan is critical for recruiting and retaining quality public school employees, which benefits students, their families, and their communities.
2. The pending spike in employer payments is primarily the result of significant losses in investment returns and a lack of state and district funding.
3. School employees have never stopped making their pension contributions. But because of decisions made in previous legislative sessions, school districts and the state have not paid their fair share in any of the last 10 years.
4. Many of the “solutions” being discussed make for good sound bites but will do nothing to lessen the projected payment increase, and are actually long-term problems that will hurt the ability to attract and retain quality education professionals over the long term.
For more information about public school employee pensions, visit www.psea.org/pension.
Pictured: Assistant Director of PSEA-Retired Steve Nickol and PSEA President Jim Testerman