Wisconsin workers would have additional retirement saving options under a new plan being put forward by state Democrats as part of their Wisconsin Families First agenda. The legislation is being introduced by state Sen. Dave Hansen (D-Green Bay) and state Rep. Eric Genrich (D-Green Bay) and will create a secure retirement fund for private sector workers similar to the Wisconsin Retirement System.
“Everyone in Wisconsin who works hard their entire life should have the opportunity to retire knowing their family will be financially secure,” said state Sen. Jennifer Shilling (D-La Crosse). “As a co-sponsor of this proposal, I think we need to look at creating new opportunities that expand retirement options and allow more Wisconsin workers to save for their future.”
While Shilling is looking to expand financial security for retirees in Wisconsin, she noted that many seniors have also raised concerns about Republican Gov. Scott Walker’s proposed $15 million cut to SeniorCare. SeniorCare provides reliable access to affordable prescription medication for approximately 85,000 Wisconsin residents aged 65 or older. Unlike Medicare Part D, SeniorCare has a simple enrollment process, a low enrollment fee, income-based deductibles and co-payments of just $5 for generic medications.