State Representative Wendy Fink | Pennsylvania 94th Legislative District
State Representative Wendy Fink | Pennsylvania 94th Legislative District
Rep. Wendy Fink from Red Lion is preparing to reintroduce legislation aimed at reforming the pension system for members of the Pennsylvania House of Representatives. The State Employees’ Retirement System (SERS) currently faces significant unfunded liabilities, and Fink believes addressing this issue requires halting further financial commitments.
Fink, who has not collected a pension since assuming office in 2023, emphasizes the importance of fiscal responsibility among lawmakers. She states, “Members of the House can take an important step toward fiscal responsibility and show leadership on this issue by making a change to the benefit options available to future members of our chamber.”
Her proposed legislation would mandate that new House members elected from 2024 onward enroll in SERS' defined contribution plan. According to Fink, “This change will not impact current members of the House of Representatives or individuals currently enrolled in SERS, but it will level the playing field among future public servants and their constituencies.” The proposed plan resembles a standard 401K offered to many employees outside government positions.
The defined contribution plan by SERS allows employees to choose how their retirement funds are invested. The final retirement amount depends on contributions made and investment performance over time.
For further information regarding this initiative or other state-related concerns, inquiries can be directed to Representative Fink’s office at 717-244-9232.
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