A Pittsburgh-Tribune Review investigation in 2012 found that PSERS pays 336 pensioners $100,000 a year, compared with 322 in SERS. Most of the six-figure pensions from SERS go to retirees from Penn State. Among the six-figure pensioners in PSERS was Robert Witten, the retired former chief executive officer of the Central Susquehanna Intermediate Unit, based in Northumberland County. Witten’s annual pension payment is $187,674.
Capping the pensionable income would limit the opportunity for public employees to get such generous pensions, Gordner said.
Other lawmakers said that the governor’s pension reforms may have merit, but that they still do not address the looming issue of what can be done about the $41 billion unfunded liability.
”He’s nibbling around the edges,” said Sen. John Wozniak, D-35th, Cambria County.
Wozniak added that he does not believe that the state should alter benefit formulas for existing employees. “That is a covenant,” Wozniak said.
Public sector unions have said that tampering with the pension calculations of existing employees is illegal and would be challenged in court.