April 26, 2018

PA State Employees Retirement System Lowers Employer Rate For FY 2018-19 to 32.93%, Down from 33.24%

The PA State Employees Retirement System Wednesday announced a lower composite employer contribution rate of 32.93 percent for FY 2018-19, down from 33.24 percent in the current year.
“Over the past eight years, policymakers and our employers have remained disciplined to restoring funding to employee pensions according to the levels established by Act 2010-120 and that work is yielding positive results,” explained SERS Chief Financial Officer and Acting Executive Director Anthony J. Faiola. “We have turned a corner as the employer rate is no longer rising and the funding status is climbing.”
According to a report presented to the PSERS Board, PSERS’ funded status increased to 60.7 percent-- from 55.5 percent-- based on the market value of assets and to 59.4 percent-- from 58.1 percent-- on an actuarial value of assets.
Click Here for the full announcement.

Thursday PA Capitol Digest NewsClips

AP-Levy: Republican Governor Hopefuls Clash In TV Debate Over Attack Ads
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April 25, 2018

Wednesday PA Capitol Digest NewsClips

Meyer: House Republicans Continue Sexual Misconduct Study With Hearing
Republican State Committee Short On Staff, Funding Ahead Of Midterms
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April 24, 2018

Tuesday PA Capitol Digest NewsClips

Editorial: Want To Fix Harrisburg? Move Campaign Finance Reform Bills
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April 23, 2018

Sen. Scavello Bill To Implement Homestead Property Tax Elimination Increases Personal Income Tax By 1.98% To 5.05%

Sen. Mario Scavello (R-Monroe) Monday announced the introduction of Senate Bill 1137 to implement the homestead exemption for school property tax elimination approved by voters last November.
Senate Bill 1137 will allow local taxing bodies to exclude from taxation 100 percent of the assessed value of owner-occupied homes in 2019.
To fund the expanded homestead exclusion program, the legislation would increase the personal income tax rate 1.98 percent to 5.05 percent. This Education Tax is expected to generate $9.3 billion, which will be placed in a separate account dedicated solely to property tax elimination.
Even with property tax elimination, Pennsylvanians will pay a lower income tax rate than surrounding states.
Taxpayers apply to their county for a homestead exclusion.
“We can all agree that any tax that would take a person’s home after working their entire life to pay for it is wrong and immoral. No individual should have to choose between paying for prescription medications, taking care of their health and paying for property taxes,” said Sen. Scavello. “People should be able to own their property and implementation of this legislation will protect and safeguard that constitutional right.”
Click Here for a sponsor summary of the bill.

Monday PA Capitol Digest NewsClips

DePasquale: No Plans For Gubernatorial Bid In 2022
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April 22, 2018

Sunday PA Capitol Digest NewsClips (Earth Day)

Esack: Republican Candidate Mango Believes Zero Connections With Politics A Good Thing
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