Top 10 Facts on SB 1

Stephen Herzenberg |

Senate Bill 1 would remove future Pennsylvania state and school employees from the state’s existing defined benefit pension (DB) plans. It would establish for each employee a 401(k)-style “defined contribution” (DC) savings account and a supplementary “cash balance” account. In this brief, we share 10 facts about SB 1 that show why Governor Wolf should veto the bill.