Editorial: Pension Security
It's safe, let it be.
Monday’s report on the Wisconsin state pension system was a welcome shot of stability for an already stable pension plan. Despite the state pension’s status as the only fully-funded plan in the country, Governor Walker ordered a study to see if any changes were needed to ensure the long term viability of the plan. The report, from the State Departments of Administration, Employee Trust Funds, and Employment Relations, basically finds the current plan is safe and sustainable.
The findings certainly make sense to us. And the Governor got it right when he said the study shows “that both taxpayers and pensioners are getting a great deal from the (Wisconsin Retirement System.”) So no substantial changes are needed, and that’s welcome news for state workers and taxpayers, both of whom have had a lot to digest lately.