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Milwaukee’s three pension systems, are not as healthy as the Wisconsin Retirement System, but they’re in relatively good shape at 87 percent funded on average.
Prior, he was a reporter for the Milwaukee Journal Sentinel. He won the 2008 Pulitzer Prize for Local Reporting for a six-month investigation of Milwaukee County 's pension system, citing "his stories on the skirting of tax laws to pad pensions of county employees, prompting change and possible prosecution of key figures."
Statements made, such as 'Employees of Wisconsin Retirement System (WRS) employers, and the City and County of Milwaukee must contribute 50% of the annual pension payment' were framing devices used to justify the cut in take-home pay, as reduction in total compensation to public employees using these retirement systems was a policy goal for the ...
The Milwaukee County Board of Supervisors is the legislative branch of the government of Milwaukee County, Wisconsin, United States. Supervisors are elected to the board in nonpartisan elections. There are 18 supervisors. [1] The county board has several committees and votes on issues involving the county, such as the budget.
The case was prompted by former City Attorney Grant Langley's determination in 2017 that the retirement system should not use a 5.8% pension offset payment when calculating benefits for...
An estimate of the fiscal impacts said the increase can fund pension liabilities and obligation bonds until the county's system is fully funded or for 30 years, while it would also free up...
According to the news release, the move would help the long-term stability of the pension system while aligning with Wisconsin's current system.
The additional money will allow the city and county to make additional payments to their underfunded pension systems. Milwaukee County alone faces a $760 million pension liability.
Milwaukee County Executive Scott Walker in 2009. Walker became Milwaukee County Executive in a special election run in April 2002, after the former County Executive, Tom Ament, resigned in the wake of a county pension-fund scandal.
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.