Pennsylvania lawmakers approved legislation Thursday that will cut retirement benefits for future hires in public schools and state government as part of a package of changes designed to slash risk and reap modest long-term savings from the state's deeply indebted public-sector pension systems.
The state House voted 143-53 to send the landmark pension overhaul bill to Democratic Gov. Tom Wolf, who plans to sign it Monday.
The cost of the two multibillion-dollar public pension systems has become a significant drag on state government finances and is widely blamed for driving up property taxes that largely fund public education in Pennsylvania.
The legislation won't...