You are the owner of this article. Winds W at 10 to 15 mph. Michael Williamson, executive state of wisconsin investment board assets under management of the State of Wisconsin Investment Board. Retirees in Wisconsin who worked for a state or local government agency in most parts of the state can expect a small boost in their pension checks this spring.
400 a year, starting in May, a state agency said Wednesday. The nearly 200,000 retirees receiving pensions from the retirement system’s Core Trust Fund are expected to receive a raise of between 1. 23,000, said ETF spokesman Mark Lamkins. More precise raises will be determined in March, Lamkins said. In a time when many public pension funds across the country are struggling with issues related to under-funding, SWIB has helped fuel one of the best funded pension systems in the U.
Michael Williamson, SWIB executive director, said in a statement. In 2016, the Wisconsin Retirement System’s Core Fund had a preliminary return of 8. 5 percent and a five-year preliminary return of 8. 1 percent, the Investment Board said Tuesday. The 2016 return beat SWIB’s benchmark of 8. 0 percent, which is based mainly on stock market index returns.
The Core Fund is the primary fund that supplies pensions for all retirees who are members of the Wisconsin Retirement System. It is diversified, with holdings in stocks, bonds, real estate, loans and private equity, and its impact is smoothed over five years. The Variable Fund is a smaller, all-stock account in which nearly 40,000 retirees choose to participate. Its impact corresponds with its results each year. The Variable Fund ended 2016 with a preliminary return of 10. 6 percent, ahead of its benchmark of 10.
4 percent, and a five-year preliminary return of 12. Participants in the Variable Fund can expect to see an increase of 4 percent to 8 percent in that portion of their pension payments, ETF said. Last year, Core Fund payments rose 0. 5 percent while Variable Fund payments took a 5 percent cut. Public employees who participate in the WRS but do not yet receive pensions will see a boost of 7. 6 percent to 8 percent in their Core Fund accounts. Those with money in the Variable Fund will get a 9 percent to 13 percent hike in those account balances, ETF said.
The Wisconsin Retirement System is the ninth-largest public pension fund in the U. The Department of Employee Trust Funds announced adjustments on Wednesday, to take effect in May. There was a problem saving your notification. Wisconsin State Journal posts new content, you’ll get an email delivered to your inbox with a link. Email notifications are only sent once a day, and only if there are new matching items. COM AUTO RACING CHALLENGE: Win weekly prizes and compete for a trip to the Daytona 500!
Please forward this error screen to sharedip-192186207129. Crescent’s impressive portfolio ranges from independent hotels to major brands. Crescent’s turnkey Project Management services cover everything you need. Let our hotel restaurant consultants optimize your culinary investment. Our hands-on approach has made us a top-ranked hospitality management company. From conferences to board meetings, Crescent know meeting planning. Learn more about Crescent’s unique corporate culture and career opportunities.