Tom Wolf on Social Security
Stop paying Wall Street millions to manage PA pension fund
We need a new approach--and we need to question the decisions that got us to where we are today. For example, why are we paying Wall Street managers hundreds of millions of dollars to manage our pension fund?
That doesn't help our middle class, it doesn't help our seniors, and it needs to change.
So, here's what we are going to do: We are going to stop excessive fees to Wall Street managers. We're going to improve retirement security for state workers.
With these and other improvements, we are going to save taxpayers nearly 1.3 billion dollars over the next five years while creating savings of 10 billion dollars in the unfunded liability.
Individually, these reforms aim to increase efficiency and eliminate wasteful spending. But taken together, they make big strides toward a larger goal: a government that works.
Source: State of the State address to 2015 Pennsylvania Legislature
, Mar 3, 2015
Maintain defined benefit for public pensions instead of 401k
All four Democratic candidates would maintain a defined benefit pension program for public employees and would oppose switching the system to a 401(k)-style plan and further delaying the state's annual pension obligation payments. McCord, McGinty and
Schwartz oppose further reductions in the pension benefits of public employees, while Wolf would not say whether he would support or oppose such reductions. None put forward a specific plan to fully fund the state's pension funds.
Source: The Patriot News on 2014 Pennsylvania governor debate
, May 10, 2014
Ensure our seniors dignity in the twilight of their lives
Tom's business provides comprehensive benefits to his employees and not only matches workers' investment in retirement funds, but makes employer contributions even when workers do not. Those are the values that would guide Tom Wolf as Governor.
Pennsylvania has an aging population that's struggling to afford their medicine; their groceries; their property taxes. We must protect our seniors and ensure dignity in the twilight of their lives.
Tom opposes Governor Corbett's scheme to privatize the lottery that would put funding for seniors at risk.
Too many of our seniors are forced to move to nursing homes, often leaving homes they lived in their entire lives, because they can longer fully
care for themselves & their families lack the resources to provide care. Tom Wolf will invest more in in-home care for seniors, so they can continue to live in their homes if they choose and their families are spared the cost of full-time nursing homes.
Source: 2014 Gubernatorial campaign website, WolfForPA.com, "Plan"
, Mar 3, 2014
Page last updated: Mar 12, 2019