Factcheck: Pennsylvania’s pension piffle

2014-05-15T21:26:45-07:00May 15th, 2014|Categories: Defined Benefit Plans|Tags: , |

An ad in the Pennsylvania governor’s race takes some cheap, misleading shots at Democratic frontrunner Tom Wolf’s record on pensions. And these come from a fellow Democrat, Rob McCord. McCord’s 30-second TV spot says Wolf’s company “terminated” a traditional defined-benefit pension plan. But it fails to note that Wolf wasn’t running the company at the time, when he held only an 11 percent interest in it. The same ad says a “state pension investment fund” lost $19 million investing [...]