Wisconsin retirees to see increase in annuity
MADISON, Wis. (AP) -- After five years of decline, retired public employees in Wisconsin will see their monthly pension payments increase starting in May.
The Department of Employee Trust Funds announced Thursday that all 180,000 retirees will see an increase in core fund investments of 4.7 percent. The roughly 40,000 investors who had money in the riskier variable fund will see an increase of 25 percent.
Pension payments are based on the performance of funds managed by the State of Wisconsin Investment Board, as well as other actuarial factors like the number of retirees entering and leaving the system.
The past five years of declines were the result of a 26 percent loss in investments when the recession hit in 2008. Those core fund losses were spread over five years.