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Public employee pension plans in the United States. In the United States, public sector pensions are offered at the federal, state, and local levels of government. They are available to most, but not all, public sector employees. These employer contributions to these plans typically vest after some period of time, e.g. 5 years of service.
Wisconsin boasts one of the least complicated retirement systems in the country, as essentially all state and local employees fall under the umbrella of the Wisconsin Retirement System (WRS).
The legislation primarily affects the following areas: collective bargaining, compensation, retirement, health insurance, and sick leave of public sector employees. In response, unions and other groups organized protests inside and around the state capitol.
Wisconsin Retirement System (WRS) The Wisconsin Retirement System (WRS) consistently ranks among the 10 largest public pension funds in the U.S. Participants include current and former employees of Wisconsin’s state agencies and most local governments other than the City of Milwaukee and Milwaukee County.
Teachers in the Menomonee Falls School District will contribute their mandatory payments into their Wisconsin Retirement System account when the first paycheck comes out next school year.
According to the Congressional Research Service, in 2022, 98% of civilian federal employees were enrolled in the Federal Employee Retirement System (FERS) of benefits, which covers employees hired ...