April 20, 2010

"McIlhinney proposes changes to pensions"

By Gary Weckselblatt, Bucks County Courier Times, April 2, 2010:
The 10th District state senator wants plans similar to 401(k)s for school and state employees.

State Sen. Chuck McIlhinney said Thursday night he's working on legislation to change the pension system for future school and state employees, moving away from a defined benefit plan to one similar to a 401(k).

McIlhinney, a Republican whose 10th District runs through much of Bucks County and Souderton and Telford in Montgomery, said he consistently hears from constituents that nobody guarantees their retirement plans. . . .