Thursday, November 20, 2014

State Retiree Health Plan Funding Is VERY Short

What you do NOT read about regarding Wisconsin's public-employee retirement provisions is this:

The study assesses the state's health insurance program's actuarial accrued liability at 29 percent.

Yes, that single line was buried, middle of the story, and it's deliberately unclear.  Let me clarify:

The Wisconsin taxpayer has only put away 29% of the funds necessary to cover the State's obligations for healthcare for retired public employees.  That is, the State will have to come up with more than 2/3rds of the healthcare obligations--in cash--in the next 20+ years.

That's a Big Honking Pile of Money.

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