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.
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.
While the Pew Center’s study found Wisconsin’s pension system to be the strongest in the nation, there’s little doubt in my mind that the study of the Wisconsin Retirement System (WRS) ordered as a part of Gov. Scott Walker’s biennial budget will find some flaw with the WRS – a flaw that will serve as “justification” of significant reforms to the Wisconsin Retirement System.