Rep. Glen Grell’s pension reform idea that would impact future state and school employees would produce savings that range between $27 billion and $30.5 billion savings for the two state pension funds over 30 years, according to an actuarial review of his plan released on Wednesday. But for taxpayers who foot the bill, the bulk of those savings for the Public School Employees’ Retirement System and State Employees’ Retirement System would be offset by having to pay off a $9 billion pension obligation bond that the Hampden Twp. Republican lawmaker’s plan would require.
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Source: Harrisburg Patriot-News, July 30, 2014.