Next year's revenue growth is expected to be nearly $819 million. Of that total growth, pension costs are projected to claim about 62 percent. That translates to more than $511 million that could have been spent on programs and services. Without any pension reform, the state must continue spending reductions to account for this amount in balancing its budget.
Pa. Budget Office Releases Keystone Pension Report
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts