Pennsylvania

Pennsylvania lawmakers remained stalled over pension overhaul, for which Gov. Tom Corbett is pushing for passage.

Pennsylvania’s Senate on Monday afternoon was scheduled to resume debate over the House-approved $29.1 billion budget bill, amid a call for pension change by Gov. Tom Corbett.

Senate wrangling is next after Pennsylvania's House passed a $29.1 billion budget for fiscal 2015.

Pennsylvania's proposed $29.1 billion budget is headed to the House floor after its appropriations committee approved it.

The Philadelphia School District is hoping Pennsylvania will provide aid, as both the district and the state enter the final days of budget preparation.

The Securities and Exchange Commission has charged a Philadelphia-area private equity firm with violating pay-to-play rules by receiving advisory fees from the city and state pension funds following campaign contributions an associate made to state and local officials. It is the first case brought by the SEC under its pay-to-play rules for investment advisers.

S&P revised the outlook on its AA and AA/A-1-plus ratings on Delaware County Authority college revenue bonds, issued for Haverford College, to negative.

Philadelphia School District's Ba2 rating was placed on review for a downgrade by Moody's Investors Service, which cited a delay in approving the budget.

Adrian King Jr. will resign as Pennsylvania's first deputy attorney general and rejoin law firm Ballard Spahr as partner on June 16.

The inexorable drive to further underfund Pennsylvania's state-wide pension systems remains alive and well, under the guise of "pension reform."

Gov. Tom Corbett's hybrid proposal to overhaul Pennsylvania's public employee pension system could pass despite a blitz from both the left and the right, said one Keystone State actuary.

A real estate revenue drop and lowered pension assumptions have triggered a budget deficit in Pittsburgh, said the city's financial recovery consultants.

Pittsburgh, through consultants Public Financial Management and Eckert Seamans Cherin & Mellott, has filed an update to its financial recovery plan under Pennsylvania's Act 47 workout program for distressed communities.

Businessman Tom Wolf won the Democratic primary for Pennsylvania governor and will challenge incumbent Republican Tom Corbett in the general election.

Unfunded pension liability is on the back burner in Pennsylvania's primary while business consultant and actuary Richard Dreyfuss joins others warning about a problem that has bond rating agencies on the alert.

Bond rating agencies are poised to downgrade Pennsylvania again based on unfunded pension liability even if Gov. Tom Corbett's proposals pass, pension expert Richard Dreyfuss said.

Philadelphia School District's responses to its difficult financial situation may lead to even worse financial problems down the road, Moody's said.

More asset sales to offset pension liability will occur nationally, Allentown, Pa., Mayor Ed Pwlowski said at The Bond Buyer's municipal distress conference in Baltimore.

S&P, in the latest bond rating company tongue-lashing to Pennsylvania over its unfunded pension liability, warned of a possible downgrade.

Union-owned Amalgamated Bank has been carving a niche for itself with bond transactions in Harrisburg and Scranton, Pa., and Allen Park, Mich.