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FOR IMMEDIATE
RELEASE Senate-House GOP Policy Committees Kick Off Two Days of Hearings on State Pension Systems Harrisburg – The Senate Majority Policy Committee, chaired by Sen. Ted Erickson (R-26), kicked off two days of public hearings with the House Republican Policy Committee on Pennsylvania's State Pension Systems. Today's hearing was held in Harrisburg, with tomorrow's set for Breinigsville, Lehigh County. The joint panel heard from representatives of the State Employees' Retirement System, employees and retirees, taxpayer groups and a local school district. "The purpose of this hearing is to shine light on the problem of the unfunded liabilities of the public pension programs in Pennsylvania and explore strategies for the future," said Erickson. "We need to hear from the people who will be impacted and understand the issue of the pension spike in context – its impact on different groups and our communities." Seventy-five percent of the problem can be attributed to the 2008 economic downturn in the economy, which affected public pension plans across the country. The first major spike in increased employer contributions will come in 2012-13, posing serious challenges for school districts and the Commonwealth. The State Employees' Retirement System would need to increase contributions an extra $1.5 billion for the fiscal year beginning July 1, 2012, and even more the following year. "The problem can't be solved in Harrisburg alone, and the General Assembly needs help in defining how to mitigate the problem," Erickson said. "We want everyone included in the discussion, and included in developing the next steps to reform the public and school employee pension systems." NOTE: Tomorrow's hearing will be held from 1 p.m. to 3 p.m. at TEK Park, 9999 Hamilton Boulevard, in Breinigsville, Lehigh County. ### CONTACT: Michele Hansarick
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