The Pennsylvania Senate on Wednesday approved a bill that allows municipal pension plans in the state to reduce or defer contribution limits, depending on each plan’s funded status, and requires those that are less than 50% funded to enter a pension recovery program administered by the $1.3 billion Pennsylvania Municipal Retirement Board, Harrisburg.
The bill originated in the state House and now heads back to reconcile differences between the House and Senate versions. It then will go to Gov. Ed Rendell for his signature.
