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House GOP leader pushes for pension hybrid plan

Written by The Associated Press | Jun 4, 2014 3:17 PM
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(Harrisburg) -- Republicans in the Pennsylvania House of Representatives say they hope the flurry of budget season lawmaking will include passage of a hybrid pension system for state workers and school employees.

Majority Leader Mike Turzai appeared with other Republican members and business leaders at a Capitol news conference today to promote a proposal for a system that combines elements of a traditional pension with aspects similar to a 401(k).

Pennsylvania's state government and school districts are grappling with significant pension obligations, and Governor Corbett has indicated his support for the hybrid approach. The proposal probably won't provide significant help for the 2014-15 budget that's due in several weeks.

The state's largest teachers' union says the proposal would be bad for the state's bond rating and economically disastrous.

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