Governor Walker is traveling to Illinois today to talk to business, education, and cultural leaders about pension reform and fiscal responsibility. Governor Walker will address the Commercial Club of Chicago which is the oldest civic organization in the city, founded in 1877.
According to a recent PEW study, Wisconsin's pension system is the only in the nation to be 100% funded and labeled a "solid performer'. Illinois' pension system is only 45% funded and is labeled with "serious concerns'.
"Our reforms will only make Wisconsin's pension system stronger by protecting current and future retiree benefits and keeping the state fiscally strong," said Governor Walker. "Illinois' leaders could learn from the hard, but necessary decisions we made in Wisconsin. Because of our prudent decisions, state programs as well as our employers and taxpayers will not be under the imminent stress of increased taxes and/or cuts. Wisconsin is leading the nation forward to a more prosperous future."
The PEW study also pointed out Wisconsin is one of only seven states to have retiree health benefit obligations 25% funded or higher. Illinois is only .1% funded for its retiree health obligations.