Milwaukee County Still Crushed by Pensions
Anytime you hear people complaining about Milwaukee County services being cut say one word, “pensions.” A few years ago the administration and county board let county workers reap great sums in retirement benefits. The county still suffers from those people padding their pockets at taxpayers’ expense:
Hundreds of Milwaukee County workers have pumped up their pensions by a total of at least $50 million through an obscure program that skirted county laws and federal tax rules, a Journal Sentinel investigation found.
Workers ranging from gardeners and grass-cutters to county government’s highest-ranking officials have tacked on extra years of service by taking advantage of uncommonly generous “buyback” practices that convert ineligibleservice into pension-worthy time.
By purchasing credit, in most cases for seasonal or part-time county stints worked in their youth, employees are getting five- or six-figure pension gains over a retirement lifetime. They can retire earlier with full benefits, and some qualify for free lifetime health insurance because of their buybacks.
Much credit has to be given to County Executive Scott Walker who has managed this financial crisis without raising taxes in his submitted budgets.
“Pension Twist Costs County Millions” [via Boots & Sabers]
