Wisconsin retirees to see decrease again - WAOW - Newsline 9, Wausau News, Weather, Sports

Wisconsin retirees to see decrease again


MADISON, Wis. (AP) - Monthly payments to retired state workers will be dropping for a third year in a row.

The Department of Employee Trust Funds announced Wednesday that monthly payments to investors in the Wisconsin Retirement System's Core Fund will drop 1.2 percent a month starting in May. All of the 156,000 people in the system get at least half of their pension in a Core Fund annuity.

The decrease comes after payments dropped 1.3 percent last year and a 2.1 percent drop the year before.

The fund's investments are still recovering from a more than 26 percent drop in 2008. Returns are smoothed out over a five-year period.

About 35,000 retirees participate in the system's Variable Fund and they will see an 11 percent increase in that portion of their annuities.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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