PA Pension Reform discussed by PRC’s Olivia S. Mitchell

Dr. Olivia S. Mitchell, the Pension Research Council’s Director and Wharton Professor, is cited in an AP article on Pennsylvania’s move to defined contribution pensions for newly-hired public sector employees. This change “for all future hires means that, eventually, and very eventually, there will be some relief,” said Olivia Mitchell, “However, the current defined benefit plan is underfunded and is not fixed by that reform. In other words, legislators will still have to put in place additional reforms to solve the underfunded system that’s been in place for so long in the past.”

Click here to read the full story from AP.