Representative Fink To Reintroduce Pension Reform Legislation

HARRISBURG — Continuing her commitment to fiscal responsibility, Rep. Wendy Fink (R-Red Lion) will soon reintroduce an initiative to reform the state pension system for members of the Pennsylvania House of Representatives. The State Employees’ Retirement System (SERS) has billions of dollars in unfunded liabilities. Fink says the best way to prevent the hole from getting deeper is to stop digging. She has also set an example for fellow lawmakers by refusing to collect a pension when she first took office in 2023. “Members of the House can take an important step toward fiscal responsibility and show leadership on this issue by making a change to the benefit options available to future members of our chamber,” said Fink. “That’s why I plan to reintroduce legislation that will require freshman House members elected in 2024 and after to enroll in SERS’ defined contribution plan.” The defined contribution plan offered by SERS is the investment option for retirement as employees pick how their money should be invested for retirement. Ultimately the amount an employee has for retirement depends on the accumulation of contributions and the performance of the investments.