When State Treasurer Joe Torsella was growing up, he was surrounded—in his small Northeastern Pennsylvania town—by people who knew and kept an eye on him, and by aunts and uncles who celebrated every birthday and special occasion by gifting him not toys, or cash, but a $25 bond for his future education. “I thought it sucked,” Torsella recalls.
“It is considered by many to be the single most effective anti-poverty program there is,” said Pennsylvania treasurer Joe Torsella, referring to the Earned Income Tax Credit, which benefits nearly 200,000 Philadelphians.
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.
Encouraging an early start for saving is good for Pennsylvania.