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PENSION CRISIS: $48 billion and counting

By - Last modified: September 21, 2012 at 6:55 AM

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You've heard about it. You know it's affecting your taxes and leaching money from infrastructure, business development, education and more.

Thanks to a combination of factors, Pennsylvania is in a $41 billion hole as it struggles to sustain its defined-benefit retirement plans. Meanwhile, municipal pension plans have amassed nearly $7 billion in unfunded liabilities.

Lawmakers are talking reform that could affect future retirement benefits — this time with the help of private-sector ideas — but how will they tackle the debt already incurred when the debate heats up in 2013?

In a two-part series, the Business Journal shows you how the state pension crisis came to exist, the reform measures that reflect the current thinking, and what the crisis means — and could mean — to your business.

Click here to download a PDF file of the costs of PSERS pension increases to school districts.

Jason Scott

Jason Scott

Jason Scott covers state government, real estate and construction, media and marketing, and Dauphin County. Have a tip or question for him? Email him at jasons@cpbj.com. Follow him on Twitter, @JScottJournal. Circle Jason Scott on .

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