MORE WISCONSIN PUBLIC WORKER GREED!

[PRO190]

OVER 16 DAYS OF SICK PAY A YEAR ON TOP OF VACATION & PH DAYS:
WHEN DO THEY WORK!!



State Employees who retired so far in 2011 have converted more than $300 million in unused sick leave to pay for post-retirement health insurance



[Madison, Wisc?] State employees who retired between January and September converted more than $340 million of unused sick leave, which they can use to purchase post-retirement health care, the MacIver News Service has learned.

For this investigation, MacIver examined data provided by the Wisconsin Department of Employee Trust Funds (ETF). Nearly 2,700 new retirees had an average of 1,716.65 sick hours banked, the equivalent of nearly 43 40-hour work weeks, each.

Wisconsin has two different programs for retiring state employees to convert their unused sick leave into health insurance payments.

Every state worker is enrolled in ASLCC (Accumulated Sick Leave Conversion Credit Program). That program takes the number of unused sick hours an employee has and multiplies it by their highest basic hourly pay rate.

People who have worked for the state for over 15 years are also enrolled in SHICC (Supplemental Health Insurance Conversion Credit Program). This program takes the employee?s ASLCC amount and matches a certain portion of it.

For most State of Wisconsin employees, sick leave accrues at the rate of five hours every two weeks, to a maximum of 16.25 days a year. Unused sick leave hours accumulate from year to year and are converted at retirement to pay post-retirement health insurance premiums for the retiree and the eligible dependents. Sick leave credit conversion accounts have no cash value and do not accrue interest over time.

According to the ETF, the average cash value of unused sick leave under ASLCC for the 2,699 retirees who left state service between January 1 and September 25 is $97,779.93.

Extrapolating the ETF data (97,779.93 x 2,699) reveals the total value of unused sick leave converted by retirees through ASLCC for that period was $263,908,031.07.

There were 1,865 new retirees who qualified for the SHICC program ( through September 8 ) as well. Their average value of credits accrued in this supplemental program, according to the ETF, was $41,934.56. So, cumulatively, (1,865 x 41.934.56) the SHICC participants converted $78,207,954.40 worth of sick leave.

The combined value of the payouts from the two sick leave conversion credit programs available to state employees who retired so far this year is a staggering $342,115,985.47 according to an analysis of data provided by the state.

Upon a retiree?s death, surviving spouses and dependents are eligible to use credits from both programs.

Both sick leave conversion programs are pre-funded. State agencies pay ETF 1.2 percent of payroll as part of their fringe benefit rate based on what actuaries say is needed to fund the programs.

Proponents of public employee compensation reform have repeatedly pointed to the difference between how the public and private sectors award fringe benefits to their employees. The new revelations underscore those differences.

 

[Duff Miver]

The program is pre funded. It's something to which teachers and their employer agreed.

So what's the reason for your whine? Jealousy?

Lemme' guess - You're a low paid slug who just can't stand the fact that many others, including teachers, are worth more than you, beckyboi.:mj07:

 

[bleedingpurple]

I will say that was one hell of a negotiation that the state employees obtained. What are they suppose to do? Retire and say, " I don't want it?" I don't know if they are greedy or just doing what any state employee would do.

And it's not just teachers either. I know state patrol man who is retired at 48 years old collecting a monthly mint

 

[kcwolf]

My wife is half way to being a 1%'er in education. Between the two of us, we qualify as 1%, and I don't draw a salary.

Pro, I love you man, but please don't criticize what we do.

 

[Trench]

A suggestion for Pro and Mags...

Since you're both so clearly envious of public employees, why don't you get a job working for the State of Wisconsin and enjoy the life of luxury you're both convinced they live? :shrug:

 

[yyz]

State agencies pay ETF 1.2 percent of payroll as part of their fringe benefit rate based on what actuaries say is needed to fund the programs.

This is just one more thing that people refuse to "get".

We have given up raise after raise at the State's behest, IN RETURN for these small percentage benefits.

You want to look at a 30+ year accumulation of someone's 1% of anything......it's probably going to look ridiculous.

The fact remains, if these people got that same cash in their check a few dollars a week, no one would have said a fucking word. Instead, they get what looks like a lump sum on the end.

If a guy was to make $50,000 a year, for 35 years, but had his employer hold back 10% every year until he retired........You'd bitch when you saw he got a nice $175,000 "payout" upon retiring, too!

"IT'S HIS MONEY!!!!!!!!"

Tell your fucking employer you want 1.5% of your wage deferred until you retire, and then use it to pay your insurance!!!!! It's the same goddamned thing!

As an added bonus, maybe your employer will toss in more if you stay with the company for 15 or more years? You know......as an incentive to NOT call in sick?

 

[Chadman]

The saddest part of the initial ridicule in this thread (and further proof of a complete lack of perspective from a Beck worshipper) is the bolded question of asking when these people work, followed by the article which says that people DID NOT USE THEIR SICK TIME and are now benefiting from not missing work.

I swear, sometimes you just can't make this stuff up. But considering the worship group this comes from, I kind of understand it...

 

[Trampled Underfoot]

A suggestion for Pro and Mags...

Since you're both so clearly envious of public employees, why don't you get a job working for the State of Wisconsin and enjoy the life of luxury you're both convinced they live? :shrug:

Don't hold your breath. I'm still waiting for that fucker, gibber, to jump ship to BK. All these pussies like to do is cry all fucking day long. Gives them a reason to live.