September 2015 ... state employees and retirees get income cut by Walker -- again
WRS News OnlineVol.1, No. 3 - September 2015
Health Insurance Program Changes for 2016The Group Insurance Board approved medical, pharmacy, and dental benefit changes to the state and local group health insurance programs for 2016. All changes apply to all participating state and local employees, retirees, and continuants.In general, the 2016 program changes center on increased cost sharing for members in the forms of:
- Added deductibles
- New office visit copayments
- Increased out-of-pocket limits
- Coinsurance for certain prescription drugs
One rotten apple ... how about a 2/3 of a barrel. Backing off until the next time!
Budget motion #999 adds to this mess fresh attacks local control. It grants the Milwaukee County Executive even more powers to privatize. It even takes a swipe at the Wisconsin Retirement System.
Out of the blue, the proposal would redefine the Joint Survey on Retirement Systems, replacing investment experts and members of the public with favored legislators chosen by the party in power.
This may sound obscure, but we need to be vigilant about anything with the potential to politicize the process of managing Wisconsin’s retirement system.The reason Wisconsin’s Retirement System is strong today precisely because it has been protected from undue political meddling.
AFSCME Lobbyist Susan McMurray has been chasing down answers about this proposal all day. You can read what she found out right here.
Sorry to say I told you so!
From WEAC (5/18/2015) via Blue Cheddar Blog
MILWAUKEE, WI - Referencing annual reports by the Wisconsin Department of Employee Trust funds, as well as a study of the Wisconsin Retirement System ordered by Governor Walker in 2011, the Wisconsin Coalition for Retirement Security warns that the proposal to privatize Milwaukee Public Schools - currently under consideration by the Legislature's Joint Finance Committee - will have serious repercussions for state retirees and taxpayers.WRS participants in MPS contribute about $36.75 million to the WRS each year, or about 2% of the entire system. Turning over neighborhood public schools to the private charter industry would destabilize the retirement system nationally recognized as the best in the nation."This is a system which has worked for decades under the leadership of Republican and Democrat Governors, why put that at risk in the current budget?" asked Rob Golla, a jailor in Stevens Point.If today's Milwaukee school employees are no longer part of the WRS, it will cause an unfunded liability of at least $210 million over the next 30 years. This money would have to be made up through increased taxes, or will be borne by the employees who dedicated their careers to public service.
Christie still determined to cut pension benefits. Bloomberg:“[Christie] will present a spending plan that seeks to contribute $1.3 billion to New Jersey’s government-employee pensions for the year starting , according to a figure released by his office. That’s less than half the $2.9 billion it was scheduled to pay … The state’s failure to set aside enough money to cover employee benefits has contributed to a record eight credit-rating downgrades under Christie…”
Wall Street makes money off your money and they want those fees!
WI 1848 Forward: #WRS #Pensions ...this is where/how #HiddenAgenda #Walker will strike next ? WI #Retirees be alert!
WI 1848 Forward: Assault on #Retirees #WRS #Pensions ...this is where/how #HiddenAgenda #Walker will strike next ?
WI 1848 Forward: Assault on #Retirees #WRS #Pensions ...this is where/how #HiddenAgenda #Walker works - in darkness
WI 1848 Forward #WRS ...direct " #political interference" in coverage & rate setting for state employees & #retirees