The State of Wisconsin Pension Fund is renowned as one of the top five pensions funds in the world. The Wisconsin Pension Fund is fully funded. Doing a “study” of the WI Pension Fund is like giving an MRI to a healthy patient. I have also heard rumors that Gov. Walker quietly forced out the head of the State of Wisconsin Investment Board (SWIB) that is responsible for managing and investing WRS funds
So why would Governor Walker want to “study” this fund? Let’s see if his actions give us any clues. Governor tried to bypass state bidding laws to sell power plants to private companies. He believes in using tax dollars to fund private schools. He wanted to change environmental law to give a mining company a quick pass to mine in a fragile environment. He is requesting proposals to privatize the W-2 program.
Currently private investment firms do not control this Wisconsin Pension Fund. Could Governor Walker’s self appointed Commission to study the Pension Fund be interested in suggesting changes so that private investment firms will get their hands on all the money in the fund? Which would de-stabilize the current fiscally sound fund by letting higher risk private investors play with the money?
Remember that all the “defined” (or known amount) monthly money pension payments to retirees are then spent in Wisconsin and are a main player in supporting local economies.
Please limit discussion in this area to local and state politics.
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