Posted Monday, June 25, 2012 --- 9:30 a.m.
MADISON, Wis. (AP) -- Wisconsin is the only state in the nation to receive high marks for its public employee pension system.
The Pew Center on the States report says only Wisconsin has enough money set aside to meet its current obligations for pensions. The "solid performer" ranking is for fiscal year 2010. That's before Republican Gov. Scott Walker and the Legislature required public employees to contribute more to their pension.
Some states facing financial challenges have moved away from traditional pensions, which guarantee a certain retirement level to employees. The states have moved toward plans similar to a 401K in which employers contribute to an employees' investment plan, but don't guarantee results.
The Journal Sentinel (http://bit.ly/PYfFd4 ) says the Pew study found only Wisconsin's pension system is fully funded, while the national average is 75 percent for state systems.
Information from: Milwaukee Journal Sentinel, http://www.jsonline.com
Copyright 2012. The Associated Press.
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