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Report: Wisconsin cities face $2.25B in unfunded liabilities

MADISON, Wis. (AP) — A new report says Wisconsin’s 25 largest cities face $2.25 billion in unfunded retiree health care liabilities.

The report released Monday by the Wisconsin Policy Forum finds that between 2013 and 2016 most of the state’s 25 largest cities made progress in reducing the size of their unfunded commitments.

But projected costs in Milwaukee and Racine alone erased the gains made by the others. The expected cost of retirement health care costs in Milwaukee and Racine rose by more than $228 million over that time.

That erased the $120 million decrease in expected health care costs in the other cities.

The analysis finds that cities took on the liabilities by promising generous health care benefits to workers after they retired, sometimes in exchange for lower pay raises.

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2 comments

  1. I thought ObamaCare was going to fix all of our healthcare woes!!!!

  2. Handsomeprettyhandsomedr.smith

    Bernie and Pocahontas are working on a way to tweak Obama care. All healthcare will be free and unlimited for all, including our fellow Americans who are undocumented ( but no less American than anyone else.) In order to promote individual proactive interest in one’s own health,government will provide transportation and financial compensation at a rate of $15 per hr for all health care visits to and from providers. It’s only fair.

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