The Wisconsin Retirement System: Why it matters to you
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- Published on Jan 23, 2012
- Written by Matthew Call
As a public education employee, chances are your retirement is being handled by the Wisconsin Retirement System – one of the largest and best-run pension systems in the country. With investments in the form of delayed salary, you have faith that when you retire you can count on the benefits you’ve earned and contributed to. However, a provision of Scott Walker’s state budget could put the WRS in jeopardy and put your investments at risk.
Your retirement matters, whether you’re close to retirement or just starting in the profession. Your benefits and your investments should be protected from politics and potentially damaging changes. Here’s what you need to know about the WRS and Walker’s risky plans:
- The WRS works: Wisconsin takes great pride in the quality and efficiency of the WRS. The system, as it exists today, is healthy and well managed.
- It’s a model for other systems: With a sound structure well positioned to pay all of its benefit promises now and in the future, the WRS stands out from other systems and is a leader in stability in uncertain economic times.
- This is your salary: Public school employees in the fund are relying on delayed salary for their retirement. These are benefits you are putting off to use after you retire.
Despite the health and success of the Wisconsin Retirement System, a component in Governor Walker’s 2011-2013 budget required a study of the system. The study is set to look at changes that, if enacted, would cause great concern to public school employees and others who have invested into the WRS. Changes such as those enacted in similar situations could destabilize the system and put your retirement at risk.
We’re watching these developments closely. Protecting a stable system managing your investments is common sense for anyone who cares about their retirement. That’s why the WRS needs to continue its successful mission and be sheltered from a political agenda that could destabilize the benefits hundreds of thousands of Wisconsinites and their families count on.
