Milwaukee’s Model Pension Plan
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  • Clayton Holbrook

    Good for them for keeping the pensions funded at least, as opposed to other places that have completely mismanaged pension funds. But it’s still troublesome to me that in effort to keep the funds solvent they’re cutting positions and scaling back future benefits. These are prudent measures, but it shows that the promises once made came at a price. And that price is perhaps less city services and scaled backed retirement benefits for future workers. So current and near retirees get their pensions and reaped the benefits of more funded city services while younger folks have to sacrifice.

    • Bruce

      Timing is everything. There have been a couple generations that reaped goodies far beyond what was reasonable or payable. But they were alive at the right time (assuming you get gratification for accepting benefits that aren’t sustainable to your progeny). Very few generations have had the luxury of early retirement and it’s turning out that in many cases it was hollow promises that allowed it.

  • tarentius

    This article is inaccurate and fails to mention the real reason that Milwaukee’s pension fund is in such good shape compared to most of the municipal pension funds in this country. A key feature of the Wisconsin retirement system – unique compared with the rest of the country – is that when investments in the fund do well, payments to retirees can go up. But when investments suffer losses, payments to retirees can decline.
    And just how many municipal employees unions will accept that in this country?

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