On to Page Three of Governor Walker’s Budget Bill, third paragraph from the top, there is very interesting language that leads to the very important question for Governor Walker. The paragraph mandates that a study of the existing Wisconsin Retirement System be performed and it must “specifically address establishing a defined contribution plan as an option for WRS participating employees” and the deadline for completing this study is June 30, 2012. I don’t think that Walker would be adding retirement benefits for workers - so I am wondering if the Republican Governors that are trying to get rid of collective bargaining of retirement benefits, so that they can terminate the existing plans and recover excess assets for their state balance sheets.
If Governor Walker’s bill passes, and collective bargaining of retirement benefits is eliminated, then next year Governor Walker can decide it is in Wisconsin’s best interests to get rid of the existing plan and replace it with something less valuable for the employees. And the employees would have no say and no one can keep Walker from raiding your retirement savings.
Again, hard-working Americans are getting the short end of the stick. Do you think this is the American Way? We need to ask Governor Walker if he is planning to get rid of the existing Wisconsin Retirement System and raid your retirement plan!
http://kristenemery.com/2011/02/23/does-governor-scott-walker-have-a-smoking-gun-buried-in-the-budget-bill/