PACB Letter to Rep. Glen Grell

April 17, 2006

The Honorable Glen Grell
House of Representatives
Room 6 East Wing
Harrisburg, PA 17120

RE: House Bill 1599 (Consolidation of Local Police Pension Plans)

Dear Glen:

On behalf of PACB’s Legislative Committee, I am writing to respectfully register our opposition to House Bill 1599 that you have introduced in the current legislative session.

It is our understanding that this legislation would eventually consolidate all local police pension plans into a single plan administered by the state.

A significant number of community banks participate as local plan administrators and we believe they provide a legitimate and good service to the communities they serve. Removing local deposits from local communities in our judgment is flawed state policy. Community banks reinvest in their communities by definition and practice and removing local funds from local communities for investment by the state and a single entity is a practice in this instance that we must oppose.

We appreciate your consideration of our views and stand ready to discuss this legislation with you in greater detail. Please do not hesitate to contact Frank Pinto, our President/CEO, Rick Cessar, our Legislative Ambassador, or Dave Transue, our Government Affairs Consultant, should you have any questions.

Sincerely,

Ronald H. Frey
PACB Legislative Committee Chairman

Cc: Representative Lynn Herman
      Representative Mark McNaughton
      PACB Executive Committee
      PACB Legislative Committee
      Pennsylvania State Association of Boroughs