A pension reform bill approved by the state Senate on Monday was quickly moved out of a House committee that night on a largely party-line vote.

The legislation, Senate Bill 1, is the latest manifestation of a years-long attempt by Senate Republicans to change the way Pennsylvania's two largest pension plans, SERS and PSERS, operate. It would create a 401(k)-style plan and give future state employees a choice of either that plan or a full-fledged 401(k) plan. There would be no short-term savings for school districts under the changes proposed in the bill, according to analysis by the state's Independent Fiscal Office.

Nonetheless, state legislators representing Butler County expressed support for the legislation on Tuesday, pointing to estimates that it will save more than $5 billion and help shield taxpayers from $20 billion in additional liabilities if state investments fail to meet projections.

Sen. Scott Hutchinson, R-21st, who chairs the Senate's Finance Committee called the bill “a step in the right direction.”

“The current course is unsustainable for the taxpayers and property owners of Pennsylvania,” said Hutchinson. “It is long past time to enact these needed reforms and limit future financial risks for taxpayers.”

State Sen. Elder Vogel, R-47th, praised the bill as “historic,” and called it a check on runaway pension liabilities going forward.

“This legislation ... will protect taxpayers from billions in financial liabilities while still providing a competitive, and most importantly, sustainable retirement plan for future employees,” said Vogel.

The 18-8 vote in the State Government Committee chaired by Rep. Daryl Metcalfe, R-12th, advanced the bill to the full House.

According to the House's online calendar, the bill is up for second consideration today.

The bill passed a state Senate floor vote Monday 40-9, with state Sen. Scott Wagner, R-28th, among those dissenting. Wagner, who in January became the first person to declare he would challenge Gov. Tom Wolf in 2018, called the bill a “half-step” that doesn't do enough to fix a state pension liability that has grown to more than $60 billion.

“The real solution is to put all new employees, legislators and other elected officials into a 401(k),” Wagner said. “Anything short of that continues to place the risk on the backs of taxpayers.”

A 2015 bill that would have required all state employees, legislators and other elected officials to enroll in such a plan was approved by the General Assembly but vetoed that summer by Wolf. The governor's office said he supports the current pension reform bill and its goals of paying down the state's debt, reducing administrative fees associated with the pension plans and shielding taxpayers from financial risk.