Pennsylvania

Scranton Mayor William Courtright called for the transfer of the city’s teetering pension fund to the Pennsylvania Municipal Retirement System, an independent state agency.

Scranton disregarded pension laws in its payment of double benefits to 35 employees over the last 12 years at a cost of $2.9 million, said Pennsylvania Auditor General Eugene DePasquale.

In a new book on the city’s financial collapse, investigative reporter and author Chris Papst calls Harrisburg, Pa. a crime victim for which justice has yet to materialize.

The inability of the Penn Hills, Pa., School District to obtain full bridge financing it needed for payroll and operating expenses is a credit negative, said Moody’s.

Pennsylvania is but one pension battleground state amid a landscape of insolvency, court actions and settlements.

The Pennsylvania Senate confirmed Gov. Tom Wolf’s confirmation of Robin Wiessmann as secretary of banking and securities.

Passing poor legislation and calling it pension reform will backfire on Pennsylvania if it does not change the underlying actuarial math, an actuary told state lawmakers.

Former Harrisburg, Pa., Mayor Stephen Reed, one day after agents raided his home, told reporters he has Stage 4 prostate cancer.

Pennsylvania's local pension problems extend well beyond poster-child Scranton, said state Auditor General Eugene DePasquale.

Agents representing Pennsylvania’s Attorney General Kathleen Kane’s office raided the Harrisburg home of its former mayor, Stephen Reed.

Newly discovered meeting tapes may shed additional light on Scranton’s 2002 pension incentive, said Pennsylvania Auditor General Eugene DePasquale.

With Pennsylvania’s bond rating at stake, lawmakers and officials this week resume the compelling debate over state and local unfunded pension liabilities.

Pennsylvania Gov. Tom Wolf has named state Auditor General Eugene DePasquale to head a task force on municipal pensions.

State Rep. John McGinnis wants to shorten the Pennsylvania pension amortization period from 30 years to 20.

Pennsylvania's Senate expects to debate a bill that backers say will begin to tackle an unfunded pension liability problem that has hurt its bond rating.

Colwyn is the 29th municipality to enroll in Pennsylvania’s distressed communities workout program known commonly as Act 47.

Tom Becket of NW Financial Group, will deliver a presentation called "What an Issuer's Financial Advisor Wants a Bond Investor to Know" to the Philadelphia Area Municipal Analyst Society.

Pension obligation bonds are land mines municipal issuers should avoid, according to Janney Capital Markets.

The City Council rejected privatization of Philadelphia Gas Works, but the future of the nation's largest municipally owned gas utility is back in play and a public-private partnership could be part of the vision.

Philadelphia City Councilman Mark Squilla has introduced six bills aimed at advancing $325 million in redevelopment of a shopping mall.