A few weeks ago, the grand compromise between the Republican-controlled General Assembly and Gov. Tom Wolf involved loosening of the state’s liquor code. And last week, it was public pension reform. In both instances, some Republicans characterized the moves as “first steps,” with others saying the measures don’t go far enough.
The House-approved pension reform bill would introduce a 401(k)-style benefit (stacked-hybrid) component into the state retirement plans for state and public school employees. All public retirement plans now are defined benefit plans.
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