MADISON, Wis. (AP) — A highly anticipated report ordered by Gov. Scott Walker and the Republican-controlled Legislature and released on Monday recommended no changes to Wisconsin's $77 billion pension system.
Democrats and public workers were fearful that the report would recommend dramatic changes to the pension system, which is the only fully funded state plan in the country. Walker had asked for the study to focus on the possibility of shifting to an optional defined contribution plan or allowing employees to opt out of the system all together. The report said that neither would amount to an improvement, given the state pension's strong financial health and its unique risk-sharing features.
After its release, Walker said in a statement that he remained open to making changes to the Wisconsin Retirement System but he didn't say what they might be.
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