Wednesday, April 18, 2012
11:05 AM
Treasury Department rules resolve Wis. pension issue
The U.S. Treasury Department will likely implement new rules that would allow states like Wisconsin to keep their lower retirement age for police and firefighters, according to a notice the agency released today.
The Democratic congressional delegation had asked Treasury to consider amending pension rules to allow Wisconsin to retain its existing retirement age of 53 or 54 for public safety employees. While the initial rules under consideration made an exemption for those pension funds, the exemption only counted if the fund was comprised of mostly public safety employees.
Because Wisconsin's pension fund lumps all public employees together, some feared police and fire would become subject to the higher retirement age.
New guidance released today would allow Wisconsin to maintain its own retirement age for public safety employees as long as the age is above 50.
Dems applauded the announcement.
“The Treasury Department has listened and done right by Wisconsin’s police officers and fire fighters,” said Rep. Tammy Baldwin. “We owe it to our public safety officers and their families to ensure a fair retirement that honors the dangers they face at work.”
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