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McGinnis misplaces blame for pension crisis McGinnis suggested that all pension funds should be rolled into US Treasury Securities. But treasury securities don’t even halfway meet the 7.5 percent return PSERS is required by law to maintain.Viagra Australia A fact check revealed rates as low as 3.41 percent for 20 year treasury securities.McGinnis reaffirmed his belief that all new public pensions should be switched from defined benefit plans to defined contributions as a way of saving taxpayer dollars.Viagra Australia Cost PSERS would be forced to lower its investment return rate by 2 percent to make up for fewer employees in the plan, and thus taxpayers would have to make up the difference.In fact, three states have already switched to defined contribution plans,http://www.pharmacyface.com and all three saw huge debt increases to their pension systems.Despite McGinnis calling PA actuarial firms “phonies,” seven additional states reached the same conclusion that defined contribution plans cost citizens far more money, not less.

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It was also troubling that McGinnis admitted he was not sure what groups belong to the state pension system.This is a significant concern, considering that the Representative has already co sponsored legislation to drastically alter the plan,Viagra Pill Color seemingly without knowing the identities of the workers that comprise it.Finally, McGinnis attempted to blame the school funding crises in Harrisburg and Philadelphia solely on teacher pensions, without mentioning the nearly $1 billion that Gov.Viagra Pill Cutter Corbett and the legislature cut from public school funding.Facing reduced state dollars, local school districts have been forced to furlough teachers, increase class sizes,http://www.pharmacyface.com cut programs and absorb a larger share of all costs.The legislature created this problem by preventing public schools from contributing to the pension fund for years, and by excessively borrowing from the fund to finance other government ventures.

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McGinnis wins 79th District A little while later, McGinnis explained to reporters how his experience in the primary led to his alienation from the state House Republican Campaign Committee foreshadowing the reform role he plans to play in Harrisburg.”If I have to be the skunk at the party,Viagra Pills I’ll be the skunk,” he told a reporter who asked how he felt about the likelihood he’ll be an outsider in the House.Viagra Pills Australia He said he detests the “disastrous” culture in which career lawmakers try to protect and grow areas of the budget for which they’re responsible, increasing the burden on taxpayers.http://www.pharmacyface.com And he detests the connections with special interests, he said.McGinnis is for diminishing the need for the government to take taxpayers’ money, and that is good for the people whose money is being taken, said Wilson Saguban, proprietor of Austin’s Market in Altoona.

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