Friday, September 28, 2012

Wisconsin Retirement System is solid

Excerpt from September 2012 WRS News:

Pew Center Report Rates WRS as “Solid Performer”

When it comes to paying its benefit obligations for current and future retired employees, the Wisconsin Retirement System (WRS) stands alone as the only fully-funded public pension system in the country.

In its report, The Widening Gap Update, the Pew Center on the States calls the WRS a “solid performer” at a time when other public pension plans are seeking ways to bridge a combined $757 billion gap in the underfunding of their pension promises.
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Fortunately for WRS participants, Wisconsin is not one of those struggling states. Wisconsin was one of 11 states Pew rated as “solid performers” in managing its pension obligations in fiscal year 2010 and was one of only four states that were funded at 95% or better (and, in fact, is the only one at 100%). 

STATE with PERCENT FUNDED in the retirement fund 
(note that Wisconsin is 100% funded)
Alabama 70% 
Alaska  60 
Arizona  75 
Arkansas  75 
California  78 
Colorado  66 
Connecticut  53 
Delaware  92 
Florida  82 
Georgia  85 
Hawaii  61 
Idaho  79 
Illinois  45 
Indiana  65 
Iowa  81 
Kansas  62 
Kentucky  54 
Louisiana  56 
Maine  70 
Maryland  64 
Massachusetts  71 
Michigan  72 
Minnesota  80 
Mississippi  64 
Missouri  77 
Montana  70 
Nebraska  84 
New Hampshire 59 
New Jersey  71 
New Mexico  72 
New York  94 
N. Carolina  96 
N. Dakota  72 
Ohio  67 
Oklahoma  56 
Oregon  87 
Pennsylvania  75 
Rhode Island  49 
S. Carolina  66 
S. Dakota  96 
Tennessee  90 
Texas  83 
Utah  82 
Vermont  75 
Virginia  72 
Washington  95 
West Virginia  58 
WISCONSIN 100 
Wyoming  86 

Source: Pew Center on the States 2012 
Note: Based on Fiscal Year 2010 data

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