http://dailyreporter.com/2010/01/08/state-worker-buyout-has-advantages/ Wisconsin's Construction Authority Wed, 08 May 2013 14:55:30 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://dailyreporter.com/2010/01/08/state-worker-buyout-has-advantages/comment-page-1/#comment-30742 legman2 Sat, 10 Jul 2010 23:40:17 +0000 http://dailyreporter.com/?p=37981#comment-30742 Keepa you hands offa the pension money!. It is not there for the legislators or Governor to use. Tommy Thompson tried this, manipulating about $40 million out of the fund, of which approx $25 MILLION was given to GM and Chysler as incentives to stay in WI. The state (Governor Tommy T and the other Governor, J. Klauser) got sued, and ten years later, after the state lost, Tommy had to come up with $230 million to put back into the fund (which was what actuaries estimated the $40 million woiuld have accrued to if the money would have been left as is in the fund). Back then $230 million was a lot of money. You can bet a large number of people will take similar action if that fund is attempted to be breached again. Keepa you hands offa the pension money!. It is not there for the legislators or Governor to use. Tommy Thompson tried this, manipulating about $40 million out of the fund, of which approx $25 MILLION was given to GM and Chysler as incentives to stay in WI. The state (Governor Tommy T and the other Governor, J. Klauser) got sued, and ten years later, after the state lost, Tommy had to come up with $230 million to put back into the fund (which was what actuaries estimated the $40 million woiuld have accrued to if the money would have been left as is in the fund). Back then $230 million was a lot of money. You can bet a large number of people will take similar action if that fund is attempted to be breached again.

]]> http://dailyreporter.com/2010/01/08/state-worker-buyout-has-advantages/comment-page-1/#comment-16648 Ed Nelson Sat, 27 Feb 2010 19:17:53 +0000 http://dailyreporter.com/?p=37981#comment-16648 I understand that Scott Walker would also like to "leverage" the Wisconsin retirement system to help underwrite the state's dire financial situation. Welcome to New Jersey or Illinois. I understand that Scott Walker would also like to “leverage” the Wisconsin retirement system to help underwrite the state’s dire financial situation. Welcome to New Jersey or Illinois.

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