Just 18 lawmakers in the state have opted for the 401(k)-style plan they mandated for everyone else, with the other 198—43 of whom are freshmen legislators who signed up for pension benefits—clinging to the old-style pension. (Photo: Shutterstock)

It may be sauce for the goose, but Pennsylvania lawmakers obviously don’t think it’s sauce for the gander as well.

After succeeding in pushing a transformation for state government and school employees’ pension plans into more 401(k)-style plans in 2017, the state’s lawmakers also included a provision that gave them “until the end of March of this year to decide whether to switch from the traditional guaranteed pension plan into one of the new plan options.”

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.