Day: November 16, 2010

Bill Adolph Votes To Save His Pension

Bill Adolph and the rest of Delaware County’s contingent to the State House with the honorable exception of Steve Barrar (R-160) joined 165 “public servants” yesterday to vote to bail out the state’s public pension systems on the backs of the taxpayer.

Thirty-one — all Republicans — voted against HB 2497.

Commonwealth Foundation estimates the cost of the bailout to be $1,360 per year in state and local taxes for the
average homeowner starting in 2012.

Suggestions on turning the pension system into a defined-contribution 401K-type plan were rejected.

No serious discussion was brooked about re-negotiating with the recipients about accepting cutbacks in the pension payments.

No serious discussion was brooked about why Pennsylvania families should not receive a $1,360 cutback in their annual compensation.

Among the pensions Adolph et al were voting to save were their own. Adolph (R-165) would get about a  $64,000 per year pension if he should retire at the end of his next term.

A roll call of the vote can be found here .

Great Experience Weathers Motors

I just recently returned from an auto inspection at Weathers Motors on Route 1 in Middletown, Delaware County, Pa., and wish to tell the world that the service was great and price the was pleasing.

Good luck and God speed to Weathers.

Great Experience Weathers Motors

Great Experience Weathers Motors

PA House OKs Castle Doctrine

PA House OKs Castle Doctrine ––  The Pennsylvania House, this afternoon, passed a bill giving the state’s citizens the right not to retreat from assailants.

The 161-35 vote for HB 1926 follows a 45-4 vote made Oct. 14 in the state Senate. It now goes to Gov. Ed Rendell, an outspoken opponent of self-defense rights, for his signature.

While the margins in both house are enough to overturn a veto it appears Rendell, if he so chooses, may be able simply be able to sit on the bill until the session ends forcing the process to start from scratch in January.

The bill says that a  person employing protective force may estimate the necessity thereof under the circumstances as he believes them to be when the force is used, without retreating, surrendering possession, doing any other act which he has no legal duty to do or abstaining from any lawful action.

PA House OKs Castle Doctrine

Pa. Gen Theft Bill Passes

The Pennsylvanian Generation Theft Bill — termed by its supporters “needed pension reform” — was approved by the State House this afternoon 165-31. It goes on to Gov. Ed Rendell for his certain signature.

It was strongly supported by government unions such as the PSEA. A roll call of the vote can be found at this link .

The first time the House passed HB 2497 on June 16 the vote was 192-6. The Senate passed it Oct. 16 by a 41-8 vote, however, it tacked on  amendments which required a new vote in the House.

On Nov. 5,
lame duck  Speaker Keith McCall  announced that his assembly would be
quitting for the year which would require the process to start from
scratch in January under a Republican-controlled House.

Five days later, however, he changed his mind.

HB2497 attempts
to resolve the severe funding shortfalls of  Pennsylvania’s largest
pension plans — Public School Employees Retirement System (PSERS) and
State Employees Retirement System (SERS) — by deferring pension
payments and increasing the unfunded liability by tens of billions of
dollars.

The bill makes some positive changes to the pension system such as doubling the amount of time to 10 years for a state employee to become vested; reducing the multiplier used to calculate pensions from 2.5 percent to 2 percent, and increasing the minimum retirement age for teachers to 65 from 62 and for state legislators to 55 from 50, it only applies to new hires

More importantly in provides for a re-amortization of existing debt over 30 years drastically increasing the interest cost.

Commonwealth
Foundation notes that the pension obligations are expected to be $5.8
billion on the taxpayer by 2012 — a six-fold increase from today —
which  translates to a  $1,360 increase in state and local taxes for the
average homeowner. The data can be found on a link to a  pdf file on this page.

There had been hopes that a defined contribution plan akin to a 401K would be introduced as per a bill introduced in the senate, SB 566.