Yesterday I had the opportunity to share some of my thoughts on what is transpiring in Wisconsin with Christian Schneider, a fellow at the Wisconsin Research Policy Institute, a free market think tank that's on the ground in the Badger State. A podcast of our conversation is here.
WRPI has a useful look at the state's public employee retirement systems, noting that governments in the state contribute between 10.55% and 13.3% of payroll to their pension systems. That compares with an average of 5.3% in the private sector. WRPI estimates that each percentage point contribution amounts to $110 million in additional payments that government must make. Gov. Scott Walker wants workers to contribute 5.8% of their salary toward pension payments, so the state can reduce its payments. You can see by the WRPI study how the savings would accumulate.
WRPI has a useful look at the state's public employee retirement systems, noting that governments in the state contribute between 10.55% and 13.3% of payroll to their pension systems. That compares with an average of 5.3% in the private sector. WRPI estimates that each percentage point contribution amounts to $110 million in additional payments that government must make. Gov. Scott Walker wants workers to contribute 5.8% of their salary toward pension payments, so the state can reduce its payments. You can see by the WRPI study how the savings would accumulate.
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