Tuesday, June 26, 2012

Politicking With Pensions

Back in April I posted:

"From the Daily Kos:

I saw this post on a trusted person's wall on Facebook, and felt that due to the severity of the claims, the info should be made as public as can be. Down below the old piece of Christmas Candy.

The following is the context of the post:

I just had a call from a friend whose wife is a retired extension agent in St. Croix County and is now back there working in another kind of professional job. Anyway, spread the word - she just got back from a regional meeting and the word there was that Walker is saying that after he wins the recall election, he plans to push through the legislature a plan to abolish the state retirement system and convert everyone to 401k which will reduce our pensions by at least a third. And then he can have the rest of the money for whatever he wants.

This is not a rumor, he is openly talking about it in Madison, it just isn't being publicized. Remember how folks thought he was going to do anything to unions?"

Yet, as the Pew Center On The States has just reported, Wisconsin Pension Is Strongest In The Nation.

And, as the articles notes, "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."

Strangely, despite all this, Scott Walker seems to feel modification and reform is necessary for Wisconsin's pension system. (Or, as usual, he just wants to funnel some of that money to his cronies.) Yes, when a government program works and the participants are pleased with the program, in the Republicans' minds, what better program to monkey with and/or dismantle.

For Further Reading:
The Failure Of The 401(K)
It's Time To Retire The 401(K)
Pension & Retirement Reading
Pension Petulance
Perilous Posturing
Recoiling Retirement
Walking Off A Cliff

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