Madison
49° F
Overcast
Overcast
Advertisement

Public retirees could face 13 percent cut

Published On: Dec 28 2012 09:20:22 AM CST
Updated On: Dec 28 2012 09:23:27 AM CST
MADISON, Wis. -

Retired public employees in Wisconsin could see their monthly payments decrease as much as 13 percent next year.

The Department of Employee Trust Funds says in preliminary estimates that monthly payments to investors in the Wisconsin Retirement System's Core Fund are projected to either remain the same or drop up to 13 percent.

All of the roughly 167,000 people in the system get at least half of their pension in a Core Fund annuity.

Payments from the fund have dropped four years in a row, including 7 percent this year.

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.

The exact amount that annuities will be adjusted will be released in March.

Advertisement
  • jack-o-lantern Halloween pumpkin

    Juliet James/SXC

    Halloween

    Games, recipes, trick-or-treating, scary movies and everything else you need to make your Halloween extra spooky.

  • Politician, politics, debate, election

    iStock / bns124

    Election Coverage

    Get up-to-date on political stories, Reality Check the latest political ads, learn about the candidates and find election results in our special section.

  • Ebola virus pink

    CDC

    Ebola special coverage

    Get the latest news on the Ebola outbreak and resources to help you learn more about the deadly virus.

Advertisement