McGinnis and Others to Update Pennsylvania’s Pension Debt Clock
WHAT: Rep. John McGinnis (R-Blair) will take part in a news conference concerning the recalibration of the Pennsylvania Pension Debt Clock, which was unveiled a year ago by state retiree and pension reform activist Barry Shutt. The clock reports every second of the growing and enormous pension debt that is being imposed on state taxpayers into the distant future. The new figure will be over $70 billion, an amount that has grown from last February’s figure by nearly $30 million a day. McGinnis will speak on the failure of Act 120 and the two necessary approaches to producing a contribution schedule to properly pay off the debt.
WHO: McGinnis; Shutt; Rick Dreyfuss, an actuary and pension policy specialist; and Eric Epstein of Rock the Capital.
WHEN: Tuesday, Jan. 24, 10:15 a.m.
WHERE: Main Rotunda, State Capitol Building, Harrisburg.
Media contact: Andy Briggs, 717.260.6474, firstname.lastname@example.org