• Pinboard Links

    Flap’s Links and Comments for February 26th from 16:50 to 16:57

    These are my links for February 26th from 16:50 to 16:57:

    • Forbes’s Wisconsin Pension Myth – Unfortunately, his “smoking gun” is not true. Not even close.

      The Wisconsin Retirement System and deferred compensation are two completely separate things. Full-time state- and local-government employees are participants in the Wisconsin Retirement System, which uses taxpayer money to fund both the state (around 5 percent of salary) and employee (another 5 percent) contributions to their pensions.

      On top of that, if they choose, state employees can participate in the deferred-comp plan, where they decide how much of their money to set aside, pre-tax, and a portion is matched by the state. That is in addition to their traditional pension contribution.

      All this can be found in Chapter 40 of the Wisconsin State Statutes, which clearly demarcates each program in separate subchapters. Further, the Wisconsin Retirement System is explained in detail in this paper from the Wisconsin Legislative Fiscal Bureau.

      This is what happens when national writers become instant experts in state-benefit issues — expect a correction post soon. Sadly, the toothpaste might already be out of the tube.

      ++++++

      How embarassing.

      Doesn't this guy have an editor?

    • The Real Political Math In Wisconsin – The real political math in Wisconsin isn't about the state budget or the collective-bargaining rights of public employees there. It is about which party controls governorships and, with them, the balance of power on the ground in the 2012 elections.

      For all of the valid concern about reining in state spending — a concern shared by politicians and voters of all labels — the underlying strategic Wisconsin story is this: Gov. Scott Walker, a Tea Party-tinged Republican, is the advance guard of a new GOP push to dismantle public-sector unions as an electoral force.

      Last fall, GOP operatives hoped and expected to take away as many as 20 governorships from the Democrats. They ended up nabbing 12.

      +++++++

      Read it all.

      Gee, Fineman you are such a brain donor.

      Of course, this is a power struggle between the GOP and Democrats.

      Elections do have consequences. I think your Lefty Pal President Obama even said that.

    • Oh, To Be a Teacher in Wisconsin – How can fringe benefits cost nearly as much as a worker’s salary? Answer: collective bargaining. – The showdown in Wisconsin over fringe benefits for public employees boils down to one number: 74.2. That's how many cents the public pays Milwaukee public-school teachers and other employees for retirement and health benefits for every dollar they receive in salary. The corresponding rate for employees of private firms is 24.3 cents.

      Gov. Scott Walker's proposal would bring public-employee benefits closer in line with those of workers in the private sector. And to prevent benefits from reaching sky-high levels in the future, he wants to restrict collective-bargaining rights.

      The average Milwaukee public-school teacher salary is $56,500, but with benefits the total package is $100,005, according to the manager of financial planning for Milwaukee public schools. When I showed these figures to a friend, she asked me a simple question: "How can fringe benefits be nearly as much as salary?" The answers can be found by unpacking the numbers in the district's budget for this fiscal year:

      •Social Security and Medicare. The employer cost is 7.65% of wages, the same as in the private sector.

      •State Pension. Teachers belong to the Wisconsin state pension plan. That plan requires a 6.8% employer contribution and 6.2% from the employee. However, according to the collective-bargaining agreement in place since 1996, the district pays the employees' share as well, for a total of 13%.

      •Teachers' Supplemental Pension. In addition to the state pension, Milwaukee public-school teachers receive an additional pension under a 1982 collective-bargaining agreement. The district contributes an additional 4.2% of teacher salaries to cover this second pension. Teachers contribute nothing.

      •Classified Pension. Most other school employees belong to the city's pension system instead of the state plan. The city plan is less expensive but here, too, according to the collective-bargaining agreement, the district pays the employees' 5.5% share.

      Overall, for teachers and other employees, the district's contributions for pensions and Social Security total 22.6 cents for each dollar of salary. The corresponding figure for private industry is 13.4 cents. The divergence is greater yet for health insurance:

      ++++++

      Read it all.

      Is there any wonder why the teachers are protesting in Madison?

      They have a sweet deal in Wisconsin.

  • Day By Day,  Public Employee Unions,  Scott Walker

    Day by Day February 26, 2011 – Express



    Day by Day by Chris Muir

    Wisconsin Democrat Senators – The FLEEBAGGERS – really think Wisconsin voters are stupid, now don’t they?

    It is very simple as in Chris Muir’s cartoon: Wisconsin taxpayers pay taxes to hire teachers who are required by law to pay union dues, who fund Democrats, so they can increase taxes and hire MORE teachers and more union workers —–> more dues to the union.

    It is a perverse, corrupt cycle – is there any wonder why organized labor has mounted massive protests to Saul Alinsky-ize the demise of their sweetheart deal in Wisconsin?

    But, you see, folks, belonging to a public employee union which has full collective bargaining ability is a privilege granted by state legislatures, not a right, enshrined in the U.S. Constitution.

    Wisconsin’s legislature will vote on the matter and then Governor Scott Walker can either sign or veto the measure. If voters don’t like it, then the next election they can replace their legislators and Governor.

    End of story.

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