Gov. Corbett's pension reform tour stops in Derry Township
With a little more than two weeks left before the state House returns to session, Gov. Tom Corbett continues to tour the commonwealth in hopes of convincing lawmakers to pass public-sector pension reform.
Corbett was in Derry Township today for a visit with local officials to talk about the need to pass meaningful pension reform legislation.
“We are facing a pension crisis,” Corbett said today. “Across Pennsylvania, homeowners are facing rising property taxes due to out-of-control pension costs.”
Pension costs in Dauphin County school districts have increased by more than $20 million, or by almost 270 percent, over the past 10 years, the governor said. Citing pension costs as a primary reason, both Derry Township and Middletown Area school districts will be raising their property taxes above their index for the 2014-15 school year.
The unfunded liability of the commonwealth’s two public-sector retirement systems is more than $50 billion. That figure is expected to rise to $65 billion over the next three years. Pension costs are consuming about 63 cents of every new dollar of Pennsylvania’s general fund revenue, Corbett said.
The state House will reconvene on Aug. 4.