Retirees shielded from state pension losses

Pennsylvania's multibillion-dollar state and school employee pension funds could report losses of 30 percent to 40 percent for the calendar year, outgoing Pennsylvania Treasurer Robin Weissman estimates. But unlike private-sector workers faced with plummeting 401(k) values, members of the public pension plans have few worries. State law prohibits any reduction in benefit rates either to retirees or for workers enrolled in the plan. Read More