Monday, November 11, 2019
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Pension Points

Keeping PSERS sound is sound public policy

PSERS fuels the state’s economy:

 

• At a Senate Appropriations hearing about PSERS’ budget for the 2010-11 fiscal year,

PSERS officials explained that the Fund paid $4.6 billion to retirees in 2008 and again in 2009.

 

• Each $1 invested in employer contributions to Pennsylvania’s state and local pension

plans supported nearly $10 in total state economic output, and that’s good for Pennsylvania businesses and workers. In fact, Pennsylvania ranks second in the nation

in terms of economic activity stimulated by public pension spending (National Institute on Retirement Security, 2009).

 

• Expenditures stemming from Pennsylvania’s state and local public pensions supported $10.5 billion in total economic output (National Institute on Retirement Security, 2009).

 

• Expenditures from Pennsylvania’s state and local public pensions paid $1.6 billion in

federal, state and local tax revenues (National Institute on Retirement Security, 2009).

 

PSERS creates jobs:

 

• Expenditures from Pennsylvania’s state and local public pensions supported 70,891 jobs

that paid $4.4 billion in wages and salaries (National Institute on Retirement Security, 2009).

 

PSERS is fiscally responsible:

• Defined benefit plans like PSERS provide retirement benefits at half the cost of the

same benefits under 401(k)-style plans (National Institute on Retirement Security, 2008).

 

• The employer cost of benefits earned this year (and in future years) is never more

8.08% of payroll (Buck Consultants, PSERS “Actuarial Valuation [for] June 2009”).  The reason projected future employer contributions are higher than 8 percent is to make up for employer contribution “holidays” and two historically bad markets.

 

For the latest information go to www.psea.org/pensions

 
The Voucher Debate

Vouchers Are Not the Answer

The Deer Lakes Education Association does not support school voucher programs. 

The following excerpt from the Pennsylvania State Education Association website explains that Vouchers do not save tax dollars. They increase costs to taxpayers, while draining resources from the students who need them most. At a time when the Pennsylvania General Assembly’s own study shows that the state’s public schools are under funded by $4 billion, private school vouchers are an experiment we can’t afford.

Private schools can deny admission to students who may be difficult or expensive to educate. Public schools, on the other hand, take all students, no matter what their needs or challenges.

PSEA [and DLEA] believe using taxpayer dollars to give parents vouchers to send their children to private schools does not benefit students, families or public schools. Pennsylvania’s education funding should be devoted to improving public schools, not subsidizing private schools.

Please view the PSEA link below to learn more about school voucher programs.

http://www.psea.org/vouchers/ 

 
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