Wisconsin pension agency clamps down on pricey flights
MADISON, Wis. (AP) — The agency that manages Wisconsin’s pension fund has tightened its travel policy to discourage employees from purchasing expensive business class flights.
State of Wisconsin Investment Board records show that on 21 trips in the last three years, employees spent more on overseas airfare so they could fly in business class instead of coach. The upgrades often gave employees multi-course meals, Internet access, more entertainment and beds — and much higher costs.
On four flights where information is available, employees spent nearly $24,000 more to fly business class instead of coach.
Spokeswoman Vicki Hearing says no business class flights have been approved since April, when the agency started requiring employees to fly coach in most instances.
Nov 19, 2009 at 5:12 a.m.
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Janesvillean: "on the level with Wall Street Brokers" but what is different is that the WI board members are paid with tax dollars and the brokers are paid with customers' monies to take junkets. I don't want my tax dollars spent sending some bureaucrat to Europe on a junket. If they were put on an investment board initially, they shouldn't need "training" and conferences. They should already know what they are doing. Phone calls, emails and teleconferencing should suffice. Anyone who has been to conferences know what a laugh they are. Just ask all the teachers who skip the teachers' conventions and take those days as vacations days.
Nov 18, 2009 at 8:08 p.m.
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Clamped down? Maybe cut back a little but the last 3 words in the article tell me it is still happening.
Nov 18, 2009 at 7:25 p.m.
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About time they clamped down, what a waste to the tax payers. A phone call is cheaper for doing business, or the internet.
Nov 18, 2009 at 4:40 p.m.
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cynicaleye, typically the destinations would be training and conferences. These are investment managers on a professional level with Wall Street brokers.
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Nobody is being punished. This wasn't fraud. This was just a lax travel policy. Until last year the pension fund, like almost all similar funds, was riding high on the bull market.
Nov 18, 2009 at 3:52 p.m.
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Yeah, and overseas??
Nov 18, 2009 at 3:52 p.m.
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Why do they have to go any place? A phone call will do
Nov 18, 2009 at 3:38 p.m.
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Where are these people flying to that they need to fly business class?
Nov 18, 2009 at 3:24 p.m.
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they should fly with Pelosi on a chartered jet
Nov 18, 2009 at 3:08 p.m.
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They shouldn't have to sit in coach, they are important people.
Nov 18, 2009 at 2:01 p.m.
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That's mighty nice of them.
Nov 18, 2009 at 1:17 p.m.
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They always seem to clamp down on the abuse after they are caught with their fingers in the cookie jar.
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