State & Local Government Policy, Business and Technology

Wisconsin faces billions in retiree obligations

Journal Sentinel: Madison — Over the next generation, Wisconsin's taxpayers and public workers must deal with at least $6.5 billion in unfunded retirement promises made by local governments, with more than $4.7 billion in the state's largest county alone, a Milwaukee Journal Sentinel investigation has found.

From Milwaukee to Eau Claire, local governments face problems more severe than any in a generation, a review of thousands of pages of financial documents shows. The biggest challenges lie in southeastern Wisconsin, with the city, county and schools in Racine, for instance, combining for at least $686 million in unfunded liabilities to retirees and workers — $3,500 for every person in the county.

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