The Wisconsin Pension system has always been strong, and more importantly fully funded, but it has just been rated by the Pew Center as "the strongest in the nation".
I did not see a diary on this yet, so I thought I would pass along some information to people around the country. According to the news story just out
Madison - As state officials eye ways to improve the pension system serving hundreds of thousands of public employees and retirees in Wisconsin, a national study is singling out the state's retirement fund as the strongest in the nation.I know that one of the main problems with New Jersey and Illinois, is not the structure or payment of their pension systems, but they did not fully fund their pensions. So now they are struggling, and Republicans are blaming the workers.
The Pew Center on the States last week found that only Wisconsin out of the 50 states has enough money set aside to meet its current obligations to pay the pensions that have been promised to public employees. Wisconsin is also the only state in the country to receive a "solid performer" ranking from Pew for both its funding of pensions and health care obligations for retirees.
I think the other key money quote from the article is the fact this all happened before Walker was elected.
More impressively, Wisconsin got those high marks for its pension funding for fiscal year 2010 - before Gov. Scott Walker and Republican lawmakers required public employees to contribute more for their pension and work longer hours and more years to qualify for one.I researched the information after the fact and of course pro Walker website has about three of four selective sentences from the report suggesting that it is because of Walker.
Some other info from Fitzwalkerstan:
Walker will have a "report" come out with "suggestions" on how to "reform" the pension system.
He will also have a "report" come out with "suggestions" on how to "reform" the health care plans for state workers.
Walker wants to give back to all his big donors, big amounts of pension money.
Sorry for the quotation marks, but I would not call what he will be receiving really reports, more like plans to privatize everything.
Take a look for yourself and see that a good pension system just needs to be fully funded and run properly with (gasp) government workers...