With the budget done, lawmakers look to the fall for key policy objectives

With the budget done, lawmakers look to the fall for key policy objectives

Speaking on the floor of the House last week, House Speaker Mike Turzai (R-Allegheny) urged colleagues to push legislation across the finish line to advance an agreed-upon budget between Republican leadership and Gov. Tom Wolf.

 

The budget passed both chambers on time, but even with an agreed-upon spending plan, Republicans and Democrats still have a wish list of policy goals that they hope to address in September when the General Assembly reconvenes.

Tuesday, July 2, 2019/Author: Justin Sweitzer
Categories: News and Views
Lawmakers roll out bipartisan career and technical education initiative

Lawmakers roll out bipartisan career and technical education initiative

Lawmakers in the House of Representatives are rolling out a bipartisan package of workforce development bills that aim to improve access, awareness and enrollment in career and technical education (CTE) across the state.

Known as #GoodJobs4PA, the initiative looks to provide resources to both students and career and technical centers in an effort to better prepare Pennsylvanians for workforce needs. The package, made up of bills sponsored by an array of Democratic and Republican lawmakers, would increase resources available to students, while also encouraging investment in career and technical centers. 
Thursday, February 28, 2019/Author: Justin Sweitzer
Categories: News and Views
Final pension commission report aims for three times the required savings with centralized investment office, transparency

Final pension commission report aims for three times the required savings with centralized investment office, transparency

Taking 18,000 pages of notes over seven months of work, the state’s public pension review commission issued seven suggestions Thursday, that they hope could save Pennsylvania as much as $10 billion over the next 30 years.

The commission, led by chair Rep. Mike Tobash (R-Schuylkill) and vice-chair State Treasurer Joe Torsella, was mandated by the 2017 pension bill.

Among its suggestions were a central investment office for the state’s two pension systems, consistently full pension contributions from the state and added transparency measures from the State Employee Retirement System and the Public School Employees Retirement System.
Thursday, December 20, 2018/Author: Stephen Caruso
Categories: News and Views
Pension reform commission prepares final report, will vote on approval next week

Pension reform commission prepares final report, will vote on approval next week

Ahead of a vote to accept or reject their final report next week, the state’s pension review commission, set up by the 2017 retirement restructuring, had its penultimate meeting Wednesday.

The commission is chaired by Rep. Mike Tobash (R-Schuylkill), who said afterwards that the report “clearly states we can be better,” whether in simplifying the investment process, using standardized reporting tools for easier comparisons with other retirement systems or by increasing transparency.

“I think everyone is on board. There are no losers in this discussion,” Tobash said.
Wednesday, December 12, 2018/Author: Stephen Caruso
Categories: News and Views
Pension review board testimony cites nearly $4 billion in unaccounted for fees

Pension review board testimony cites nearly $4 billion in unaccounted for fees

Charged with finding $3 billion in savings, Pennsylvania’s pension review board may have already reached their mark.

In a hearing Thursday of the Public Pension Management and Asset Investment Review Commission — set up by the 2017 pension reform bill — testimony from two experts to the commission revealed that the state might have paid $3.8 billion in unreported fees over the past ten years.

Specifically, the fees appeared to come from carried interest, or money a private equity firm, especially on alternative investments, takes in excess of its share of a partnership.

Friday, September 21, 2018/Author: Stephen Caruso
Categories: News and Views
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