Your Views: State pension fund bonuses should outrage participants
Last year I wrote a letter The Gazette published about our Wisconsin Pension Fund managers/investors and their astronomical ($8 million) 2013 bonuses.
This year they were granted $13.3 million in bonuses. These managers/investors have lost sight of whose fund they’re raiding.
When was the last time any of the 590,000 retirement system participants received a $25,000 bonus, much less a grab-what-you-can bonus!
I did get an increase on my retirement check. Yep! It was a $60.91 increase. That comes to $730.92 additional taxed money for 2014. I’d like to get back what was taken over five years of the recession! I’m not greedy. Talk about a slap in the face from the pension board.
The April 24 Gazette says 50 pension managers got six-figure bonuses! Eighty-eight employees got at least $25,000! The remaining 55 employees received undetermined amounts. I want to know what the poor nine other employees did to not deserve pieces of this feeding frenzy!
Now not to pick on one employee, but I’m curious. David Villa got a bonus of $421,000 for 2013 and $660,378 for 2014. What did he make prior to this outrage?
Where are the 590,000 participants in this pension system? Are we sleeping? If you’re reading all this, you cannot be happy about what’s going on with your money! Wake up! Voice your disapproval of the raid on your pension system.
I hope members of our pension system unite and seek legal action to halt this assault on our pensions.
MICHAEL H. CUMMINGS