Scranton's adoption of a 0.75 percent commuter tax shows why state lawmakers need to pass legislation to curb municipal pension benefits for future police and firefighters, the sponsor of a key House bill said Monday.
Do you remember those traditional pension plans from days of yore? Although such plans are nowhere near as prevalent as they were back in your grandfather’s day – especially for employers that must cover dozens of employees or more -- there’s still a time and place for the “defined benefit plan.” In fact, this option might be a perfect fit for a small business with just one or just a handful of full-time workers in the fold.
After more than a day of criticism from fellow state Republicans for allegedly failing to show leadership, Gov. Tom Corbett said Friday he has worked behind the scenes for long enough and will take his cause of pension reform to the public.
Once upon a time, an entrepreneur with just a handful of employees wouldn’t even think about starting up a 401(k) plan for the business. The administrative costs, as well as the complexity, could turn into a nightmare. But costs have come down in recent years and now the 401(k) is a viable vehicle for an employer of virtually any size.