Pa. House approves pension overhaul bill

HARRISBURG, Pa. (AP) — A bill making significant changes to Pennsylvania’s large public-sector pension plans is on its way to the state Senate.

The House voted 192-to-6 today in favor of legislation to smooth out a looming jump in costs to taxpayers and reduce some benefits for newly hired state workers, teachers and other school employees.

Its provisions include raising the standard retirement age to 65 and requiring at least 10 years of service to vest.

The changes involve the Public School Employees’ Retirement System and the State Employees’ Retirement System.