[img_assist|nid=63849|title=Later than you think|desc=|link=none|align=left|width=130|height=129]The professionals at the Wisconsin Dept. of Employee Trust Funds (ETF), which is the pension and benefits administrator for the Wisconsin Retirement System (WRS), came out with a media advisory on Aug. 4 that perhaps was overlooked in the days leading up to the recall elections. Basically, the report shows that public employees suddenly this year have been inquiring about their retirement packages and taking retirement at enormously high levels.
Gee, wonder why? Hmmm. Could it be, oh, I don't know, maybe .... SATAN!!?
The WRS serves hundreds of thousands of active and retired state and local public employees across Wisconsin. The key data:
73% of WRS active employees are local government employees; 27% are state employees.
For the ?rst 7 months of 2011 (January-July) requests for retirement estimates:
• Increased 63.8% over the same period in 2010.
• ETF received an average of 2,859 per month; for the same period in 2010, the monthly average was 1,745.
• In calender year 2010, ETF received a total of 20,077 requests for estimates.
• In 2011, through July 31, ETF received a total of 20,015 requests for estimates.
Retirement applications:
• Increased 84.8% over the same period in 2010.
• ETF received an average of 1,987 per month; the monthly average was 1,075 for the same period in 2010.
• In calendar year 2010, ETF received a total of 11,750 retirement applications.
• In 2011, through July 31, ETF received a total of 13,907 retirement applications.
The sudden rush to the exists by public employees may well gladden the hearts of tightwad conservatives, but it will not help Wisconsin governments become more accomplished, efficient providers of public services. Next up: Conservative lawmakers bemoan the public brain drain, and announce there's no alternative but to outsource yet more of the public's work to for-profit private consultants, which firms just happen to have dumped lots of campaign money on those very same conservatives.
Much more info at the ETF web site: