Pension law leaves taxpayers with $5B annual cost

This is Ed Rendell's idea of pension reform. The bill, which was backed by the teachers union, was passed with the support of Rendell and the Democratic majority in the state Legislature.

From The Associated Press:

Structural changes passed last month in Pennsylvania's large pension plans for state government workers and school district employees will still leave taxpayers on the hook for billions of dollars in new costs in the coming years.

The cost to the state government and school districts will go from $1.25 billion this year to just under $2 billion next year, but the average annual price tag for the coming decade amounts to $5.3 billion.

Pension law leaves taxpayers with $5B annual cost - pottsmerc.com