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Article: Pennsylvania Gov. Schweiker Signs Bill That Saves PA School Districts $225 Million in Next Fiscal Year; Legislation Also Increases Retirement Benefits for Thousands of Retired State Workers and Public School Teachers.
- Article from:
- PR Newswire
- Article date:
- April 23, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HARRISBURG, Pa. -- Pennsylvania Gov. Mark Schweiker today signed legislation that will provide $225 million in immediate savings to Pennsylvania's 501 public school districts.
The savings were made possible by a reduction in the employer contribution rate for fiscal year 2003. School districts will see their contribution requirement to the fund drop from 5.64 percent to 1.15 percent.
"This is certainly welcome relief for school districts all across Pennsylvania," Gov. Schweiker said. "Given the fact that our revenue shortfall is still mounting, our ability to provide a basic education subsidy beyond the 1 percent I have proposed will be exceedingly ...