School staff could benefit from budget
MADISON — Education support staff would be treated the same as teachers in terms of how quickly they can enter the state retirement system and when they can retire, under a proposal in Gov. Jim Doyle’s budget.
The changes would increase costs to the system and raise benefits for teachers’ aides, cafeteria workers and clerical staff who would be affected. Exact costs weren’t included in Doyle’s budget or an analysis by the nonpartisan Legislative Fiscal Bureau.
Groups representing retired state workers and school boards raised concerns on Wednesday that it would amount to an unfunded mandate at a time when the retirement fund is losing money requiring a cut in pension payments.
Mar 19, 2009 at 11:26 a.m.
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I think you nailed it on the head, SarahB1.
Mar 19, 2009 at 9:29 a.m.
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This one befuddles me as well. The article is fairly vague as to the specifics of the plan, but I know the state retirement system has lost billions in the market these past months. It would seem that an increase in benefits would not be in the best interest of the budget. However, if these support personnel weren't paying as much into the system, then perhaps this is a revenue grab up front with a big payout later. It is important to remember that the state doesn't fund the retirement, but manages it. Teacher contributions to retirement are part of their compensation package.
Mar 18, 2009 at 7:14 p.m.
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I wish they had a pension plan where I worked. They even stopped the 401K match. So much for cutting spending...
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