Pennsylvania state Senator Jarrett Coleman (R-Allentown) this week introduced a measure requiring colleagues to take defined-contribution (DC) savings plans rather than traditional pensions.
Coleman, an airline pilot and former Parkland School District director, won his first Senate election last year on a reformist platform and has since briskly worked to effect change regarding education, election integrity, regulation and other issues. Now he’s asking members of his chamber to consider a policy directly affecting their own bottom lines. He believes it’s an important initial step toward more making the commonwealth’s employee retirement programs more solvent.
Legislators are considering changes to Missouri’s teacher and non-certified school employee pension plans to alleviate pandemic-related teacher and staff shortages.
HB2114, sponsored by Rep. Rusty Black, R-Chillicothe, will reduce restrictions on pensions if a retired public school teacher returns to the classroom or to a non-teaching position in a public school. The legislation also increases from two to four years the length of time a retired teacher or retired non-certified public school employee can work while still receiving their pension.
During testimony before the House pensions committee, Rep. Black, the committee vice chairman, said similar legislation was passed by the House and died in the Senate last year as the legislative session ended in May. He said the legislation simplifies and improves the amount retirees can earn before their pensions are restricted.