Wow. That’s a lot of cash.
Five years ago, Gov. Walker and the Republican legislature started their odyssey that resulted in the signing of Act 10, a milestone law that has saved Wisconsin taxpayers $5.24 billion, according to a new analysis by the MacIver Institute.
The analysis found that Wisconsin saved $3.36 billion by requiring government employees contribute a reasonable amount to their own retirement. The analysis also estimates local units of governments saved an additional $404.8 million total by taking common sense steps like opening their employees’ health insurance to competitive bidding. Milwaukee Public Schools saved $1.3 billion in long-term pension liabilities, and Neenah saved $97 million in long-term pension liabilities in addition to other savings.
These taxpayer savings are only possible thanks to Act 10.