MADISON, Wis. (AP) — About 203,000 retired public employees in the Wisconsin Retirement System will receive a 2.4 percent pension payment increase starting in May.
The Department of Employee Trust Funds announced the payment increase on Tuesday. It comes after the State of Wisconsin Investment Board reported that investments in the “Core Fund” rose by 16.2 percent last year and “Variable Fund” investments rose by 23.2 percent.
All public employees are covered by the “Core Fund,” which balances out gains and losses over a five-year period to avoid large increases.
The roughly 41,000 retirees who invest in the voluntary and more volatile “Variable Fund” will see a 17 percent increase on that part of their annuities. That fund is composed completely of stocks, making the pension payments that are tied to it more subject to ups and downs.