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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