Monday, January 16, 2012

More Defined-Benefits for UW Employees?

Word on the street is that Pat Strachota (R-West Bend) intro'd legislation to allow UW System to offer a defined-benefit pension plan.

Oh, really, Pat?

She offers some flapdoodle about 48 other States, and how since U-teachers move around a lot, they really need a defined-pension plan, yada yada yada.

Foofoodust.

A 403(b), which is the public-sector version of a 401(k), is portable--unlike defined-benefit plans, and can be converted at retirement into a defined-benefit pension.  That's called an SPDA.

C'mon, Pat.  Get a grip on reality.

2 comments:

Deekaman said...

She must be a-feared of them Recallers.

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