Pennsylvania Gov. Tom Wolf and legislators should work together to enact pension commission recommendations
In 2017, Harrisburg politicians figured out a way to keep the public eye off their historic mismanagement of the state’s pension funds until after the 2018 election cycle. They cleverly created one of those study commissions and ensured that it wouldn’t release its study results until after the 2018 election.
Recently, the Federal Reserve released a startling finding: total student loan debt in the United States just surpassed $1.5 trillion. That may be news to a lot of us, but it’s not news to Pennsylvania’s college graduates in particular, which lead the nation in having the most student debt per person.
When a mechanic for the Pennsylvania Department of Transportation goes to work, they don’t often think about the investment management fees of the Pennsylvania State Employees’ Retirement System (SERS). They shouldn’t have to.
Every dollar in the Treasury comes from the hard work of Pennsylvania taxpayers. Pennsylvanians need to trust that their money will be managed with fairness and integrity, uncompromised by conflicts of interest, political affiliation, favoritism, or other unfair considerations. Under my administration, the days of needing to know someone to do business with Treasury will be over.
We can and should do much better.
“I’ll be the kind of commonsense problem solver Pennsylvania needs.”
– Joe Torsella
John Bogle was a pioneer in his field, who helped millions of Americans save towards a comfortable retirement. I am lucky enough to call him both a mentor and a friend. Rest in Peace, Jack.