The Milwaukee Public Schools (MPS) Board of School Directors unanimously approved its $1.22 billion budget for 2020-21 early Friday morning. Numerous amendments will spend at least $11 million more than the original proposal. The budget includes an expansion to employee retirement benefits, effective July 1 of this year. Read More MPS Board Approves $1.2 Billion Budget, Expansion of Retirement Benefits, $15 Minimum Wage
Special Guest Perspective by Kerri Seifert – As many state pension plans struggle with severe underfunding, the Wisconsin Retirement System (WRS) stands out with a funded ratio above 100 percent. This can be attributed to pragmatic efforts and plan flexibility, nontraditional aspects that ultimately enabled the system to swiftly regain full funding after past market declines. Read More How Wisconsin Fully Funded Its Retirement System
By Ola Lisowski – No amount of state aid will ever be enough to prop up such cost drivers and an establishment that is more focused on employment than students. Read More The Real Controversy Surrounding the MPS Budget Debate
MacIver News Service – The Wisconsin Retirement System (WRS) is in good condition according to a report released by the Legislative Audit Bureau (LAB) this week. However, LAB detected some errors after the Department of Employee Trust Funds (ETF) was required to follow new accounting standards. Read More Wisconsin Retirement System Fully Funded, But Audit Finds Some Errors
