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Saturday, November 2, 2024

Breaking Down Wisconsin's Pension Contributions: $2.3 million collected in 2020

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Wisconsin Governor Tony Evers | twitter.com/GovEvers/photo

Wisconsin Governor Tony Evers | twitter.com/GovEvers/photo

In 2020, Wisconsin had received $2.3 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $2 million was in state pension funds, and the remaining $217,250 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Wisconsin reported data from four pension systems, including one state-level pension funds and three local-level systems. The total number of pension system members was 692,835 (648,486 at the state level and 44,349 at the local level).

Contributions to Wisconsin's public pension funds
LocalStateLocal & State
Employee contributions$50,614$987,662$1,038,276
Government contributions$166,636$1,046,942$1,213,578
Total Contributions$217,250$2,034,604$2,251,854
Source: US Census Bureau

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