Jun 17, 2012

Public pension fund—worked once, it ought to work again

Update: Pension tension: Retired state workers fear future payments will be squeezed (Ivey. Cap Times)

So said Burt Reynolds—playing quarterback, Paul Crewe, in The Longest Yard—after drilling a football point-blank into the blitzing linebacker's "never region."

The same tactic looks to be used by Scott Walker, aiming at Wisconsin workers.

This time Walker targets pensions, a dirty move against the working class sneaked in by Walker minions in a long-sought move against anything public that helps working families.

Retirees fear more changes to the public pension system (Verburg. Wisconsin State Journal, June 17, 2012)

An effort at privatization is coming.

Amid denials by Walker he is advocating changes to the Wisconsin's public pension system, a stalled raid is seen by some observers as a Walker head fake; or a raid now regarded as a bridge too far.

But the State Journal's piece presents raid as a matter of "difficult choices," while admitting the pension system is the envy of the nation. But note Verburg's two grafs reading:

The 2011 biennial budget calls for a broad review of the system's operations, including the possibility of allowing employees to opt out.

Walker-appointed representatives of the state Department of Administration [a Walker political operation] and its Office of State Employment Relations have been meeting with policy officials from the state Department of Employee Trust Funds, which operates the pension system.

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