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Dear Wisconsinites -
While we're not out of the woods yet, our state's vaccine rollout has progressed and Spring has begun to feel hopeful. Your State Treasurer's office has been hard at work to make sure the recovery reaches Wisconsin's working families by investing to bridge the digital divide in education, preventing foreclosures, expanding access to retirement, and advocating for federal aid for Wisconsin communities and small businesses.
The State Budget season is also upon us, and as your fiscal watchdog, I aim to bring transparency to this process with our 2019-21 Taxpayer Report. Our office will continue to track the 21-23 budget as it moves through the legislature in the coming months.
We continue to make strides, and I look forward to making progress throughout the rest of the year. I'm honored to serve as your State Treasurer, and please know you can reach me anytime at treasurer@wisconsin.gov.
Forward,
Investing in Education
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As State Treasurer, I serve as the Chair of the Board of Commissioners of Public Lands (BCPL), where I oversee the financial performance of four trusts funds with assets that exceed $1.2 billion. The earnings of these funds support our public schools and universities.
2021 A NEW Record Distribution - $39 Million: We're very excited to announce the largest regular disbursement from the Common School Fund — this year, $39 million will be distributed to public school libraries across Wisconsin to help students, parents, and educators continue to tackle the challenges caused by the COVID-19 pandemic.
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As the BCPL chair, I've seen the resilience displayed by Wisconsin's teachers and school staff this year, and I couldn't be prouder to help make these valuable resources available and give our students and educators the support they deserve.
Ensuring Economic Security for Wisconsinites
Retirement Security: As Chair of Governor Evers' Retirement Security Task Force, I worked alongside legislators, experts and community leaders to develop ways to improve retirement security for all Wisconsinites. The cost of doing nothing is steep — without action, Wisconsin risks having over 400,000 seniors living in poverty by 2030, and the state will need to spend $3.5 billion more on programs relating to senior care. In order to meet the needs of current and future generations, the Retirement Security Task Force report outlined five bipartisan, cost-effective, and innovative solutions:
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WisconsinSaves is a simple, plug-and-play auto-IRA enrollment program for Wisconsin businesses of all sizes, which would utilize best practices to extend access to retirement savings to nearly 1 million Wisconsinites who do not currently have access.
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401(K)IDS sets our future generations up for success by providing every child born in Wisconsin with a target-date investment account to build long-term wealth and provide meaningful financial education. Nearly 60,000 kids born each year would access the benefits of compound interest and a life-long savings tool they could use to build wealth, buy their first home, pay for education, and save for retirement.
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Emergency Savings structure that ensures Wisconsin workers have rainy day funds and don’t need to tap into retirement savings when the unexpected happens.
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Incentivize Participation in Workplace Plans to encourage Wisconsin employers who currently offer retirement plans for employees to utilize auto-enrollment to maximize participation.
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Interactive E-Commerce Portal would serve as a centralized, trusted source of information for retirement savings and other financial needs.
Watch the short video below on how our 401(K)IDS proposal would benefit our children.
Your Fiscal Watchdog: Bringing Transparency to our State Budget Process
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As your State Treasurer, I take great pride in my role serving as Wisconsin's fiscal watchdog. Our 2019-21 Taxpayer Report is a clear and digestible summary of the state budget, which is passed every two years by the Wisconsin State Legislature and Governor.
Transparency and accountability are crucial in public finance, and citizens have the right to know how their tax dollars are being spent without having an accounting degree or needing to sift through long, confusing documents. With this in mind, we hope this report provides a deeper understanding of the process and insight on tax-funded programs.
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With the release of this report, the Governor and Legislature are working on our state's next biennial budget, which will be finalized this summer. Our office continues to track this process and will be providing more information to increase transparency for citizens.
Other Updates & More to Come!
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NEW WEBSITE. Our office has updated our website! Please check out statetreasurer.wi.gov to see the new look and stay updated on our work.
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Homeowners Task Force Report & Statewide Homeownership Network: Coming this Spring!
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Unclaimed Property Promotion. Have lost property or money? You might! The State Treasurer's Office works to return property to its rightful owners from uncashed death benefit checks to inactive savings accounts. Throughout the year, we have been connecting people with their unclaimed property and have more outreach efforts planned for 2021. To learn more about Unclaimed Property click here, and you can check if you have any unclaimed property here or by calling (608) 264-4594.
If you would like to stay connected with our office, please don't hesitate to:
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