Friday, February 01, 2013

Thorns to Pa. state pension official for raise

From the editorial page of The Pottstown Mercury:
THORNS to the State Employees Retirement System board for giving a substantial raise to the chief investment officer at a time when the pension system has put local and state finances in jeopardy. The SERS board recently awarded CIO Anthony Clark a $20,001 increase, from $250,016 to $270,017, while the state is facing an unfunded pension liability of $41 billion. State treasurer Rob McCord, who is a member of the board, revealed the raise in a press release in which he announced his objection to it. “At a time when the state is struggling to find a way to meet its future obligations to retirees, this is a bad decision on both a symbolic and a financial level,” McCord said. We couldn’t agree more. 
Roses to Natural Lands Trust; thorns to state pension official for raise

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