Governor Corbett’s budget briefing outlined significant reform measures to Pennsylvania’s two public pensions systems: the Public School Employees’ Retirement System (PSERS) and the State Employees’ Retirement System (SERS).

Approximately 25 percent of APSCUF members have a SERS retirement plan and 8 percent are enrolled in PSERS.

APSCUF believes the outlined pension reform measures are premature and that Governor Corbett needs to allow Act 120 to work.  Significant reform measures to reduce the multipliers, increase vesting, modify Option 4, increase normal retirement age and impose a cap on benefits were already achieved through the passage of Act 120.   These proposed reformed measures will only result in long court challenges as they will be constitutionally challenged.

Visit our blog to read more about the details of the Governor's pension reform plan.

Governor Tom Corbett announced a proposal to flat fund state-owned and state-related universities in exchange for their commitment to keep tuition “as low as possible.”

After announcing level funding, Governor Corbett and Department of Education Secretary Ron Tomalis broadly outlined plans to develop a long-term performance-based funding system for higher education stemming from the Advisory Commission on Postsecondary Education recommendations released last November.