Monday, February 27, 2012

Study on pension options worries public workers -- GazetteXtra

A major study is due June 30 on whether there should be options to the defined-benefit pension system for public employees. The study likely will reignite the emotional debate over whether the compensation of government workers is too generous. …. Q. Why are public employee unions worried? A. AFSCME Council 24, one of the largest state employee unions, says: “(WRS) is one of only four state pension systems that meets the strict actuarial definition of being fully funded. In AFSCME’s view, there is no need to ‘study’ the WRS or modify a pension system that works well and provides a modest pension for a career of service. However, since the budget law mandates the study, having ETF take charge is the best we can hope for in this uncertain time. AFSCME has been keeping a close watch on the study proposal. We have a fightback campaign underway to protect the WRS and your pension.”

Study on pension options worries public workers -- GazetteXtra

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