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.”

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Marlene Satter

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

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