> Turns out that the pensions aren't paid by the tax payer like one would get > contributions from your employer into a 401k.turns out that it is deferred > salary payment
Sorry, looking at the referenced documents I don't see that. The article you linked to links to the final printed CBA documents here: http://oser.state.wi.us/subcategory.asp?linksubcatid=1246&linkcatid=389&linkid=27 I'll admit, I only looked at the Education Association, State Employees, Research Employees and State Prosecutors contracts, however in each of them I found a section under "Benefits" called "Retirement"... and in each of those sections the language is practically identical (the section numbers are different): Retirement 13/13/1 The Employer agrees to continue in effect the administration of the Wisconsin Retirement System as provided under Chapter 40, Wis. Stats., and the appropriate Adm. Code rules of the Employee Trust Funds Board. 13/13/2 For the duration of this Agreement, the Employer shall contribute on behalf of the employee five percent (5%) of the employees earnings paid by the State. 13/13/3 Effective July 6, 1986, the Employer shall pay the one percent (1%) benefit adjustment contribution required by s. 40.05(2m), Wis. Stats. 13/13/4 Effective January 1, 1996, the Employer shall pay the additional three tenths of one percent (.3%) employee share of the required benefit adjustment contribution for general occupation employees. There is NO language for a "pension". Sorry folks, that's just bad reporting. Where in the contract does it say that the funds are coming from the employee? I can't find it... but then again it's a good beer day so I may have missed something! Hatto ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:334729 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
