So, the state, using taxpayer funds, over-pays the teachers, then takes back some of it as “deferred compensation”; then promises to use more taxpayer funds to make up any “sort fall”?
Is that an accurate assessment?
Truth is, 100% of all of it is taxpayer funds.
Unless I’m reading the article incorrectly, it seems that the WI taxpayers are even more screwed than I originally thought. Not only do they fund the salaries, healthcare, union dues, and benefits for state workers, but they also must pay for any shortfall in a collectively bargain deferred retirement.
Am I wrong in thinking this. It’s basically taxpayers potentially paying additional interest on what they already are paying to the state union workers. It’s the exact opposite of a private loan, isn’t it?