HARRISBURG – PA state senators should lead by example in the effort to reform PA’s underfunded pension system for government workers. That’s the sentiment behind a bill introduced by Sen. Jarrett Coleman of Lehigh & Bucks Counties that would force future state senators to participate in a retirement plan similar to those offered in the private sector. Coleman decided to forego the taxpayer funded pension. State lawmakers, judges, executive office staff, state agency employees, and state government workers are eligible to participate in SERS – the State Employees’ Retirement System. SERS does not have enough money to pay all the benefits promised to retirees. The most recent data show the system is less than 70% funded and has a shortfall of $16.4 billion. Coleman’s bill would force senators elected in 2024 and after to enroll in a defined-contribution option. Senate Bill 699 has been referred to the Senate Finance Committee
SEN. JARRETT COLEMAN