FOR IMMEDIATE RELEASE
July 2, 2012
Rep. Gary Hebl Supports Current Wisconsin Retirement System
Report demonstrates that Wisconsin has the best run state retirement system in the county
MADISON – The 2011-2013 Biennial Budget (2011 Wisconsin Act 32) required a joint study of the Wisconsin Retirement System (WRS) to review the structure of the WRS and the benefits the WRS provides. The study confirms that Wisconsin's public pension fund is in strong condition and the WRS should not be changed to allow public employees to shift their benefits to a 401(k)-style retirement plan or opt-out of employee contributions to the WRS.
“Wisconsinites should be proud of the very high marks the WRS has received,” said Hebl. “The WRS has proven to be a stable, well-funded plan that serves both retirees and taxpayers well. I hope that the Governor and the Legislature follow the report’s recommendations and avoid any attempts to privatize or undermine the WRS. The WRS is a national model and I will strongly oppose any efforts that would weaken this system that has served our state so well.”
The WRS report was jointly conducted by the Wisconsin Department of Administration, the Wisconsin Department of Employee Trust Funds and the Office of State Employee Relations.
A copy of the report can be found here: http://etf.wi.gov/publications/wrs-study.pdf