Report: Pennsylvania’s debt much higher than reported, up to $82 billion

(Pennsylvania Watchdog) Like other states, Pennsylvania is staring at a public pension debt that raises alarm bells.

Pennsylvania did pass a pension reform bill in 2017, a fact cited by incumbent Gov. Tom Wolf recently during the lone gubernatorial debate of this election cycle, but Republican challenger Scott Wagner argued that the reform, while well-intentioned, was hardly sufficient.

According to good government group Truth in Accounting, Wagner may be more right than he knows, and in fact the size of the state’s public pension and retiree health care debt may be larger than the state itself has acknowledged. That’s according to a recent report, “The Financial State of the States,” which assigns Pennsylvania a “D” grade and identifies $82.1 billion in unfunded debts.  Read the full story on the Pennsylvania Watchdog.