Taxpayers will pay for underfunded retirement expenses | PennLive Letters
Taxpayers read state, county and municipal fiscal forecasts and attend town meetings where business leaders now report unprecedented real tax revenue. They are now aware of unprecedented revenue growth after the second quarter of 2022. Incoming tax revenue is on the rise. Corporations and the self-employed are paying taxes like never before. The economy of their businessmen has returned.
Citizen taxpayers are calling on elected leaders of the Commonwealth of Pennsylvania to fully fund the State Employees Retirement System (SERS). Pennsylvania lawmakers recently increased their taxpayer-paid salaries, which automatically increases their fully funded pensions.
AP lawmakers’ pensions are invested in a separate SERS system with the Pennsylvania State Police and that pension system is fully funded. However, there remains a shortfall in fully funding the SERS pension fund for Commonwealth workers and pensioners. Taxpayers do not want to see an unprecedented increase in Rainy-Day fund investment until the SERS pension fund is fully funded.
Taxpayers will be responsible for these underfunded retirement expenses anyway. We call for: “Pay me now, finance the deficit of the SERS pension fund and do not kick the street.
All state employees, active and retired, are attentive and will call their elected officials. You are elected by us and represent our citizen financial interests as well as those of corporate CEOs.
Karen Overly Smith, Mechanicsburg, Pennsylvania.