MADISON, Wis. (AP) - The investment funds for most Wisconsin public workers and retirees shrunk slightly last year.
The State of Wisconsin Investment Board reported Friday that preliminary data shows the Core Fund shrunk about 7 percent. The gross rate of return was -3.3 percent. The five-year return is 5.2 percent. The more volatile Variable Fund shrunk about 1.1 percent. Its gross return rate was -7.9 percent. Its five-year return is 5.9 percent.
The board noted U.S. financial markets struggled at the close of 2018.
The funds fuel pension payments for more than 632,000 current and former public employees. Their payments are leveled out over a five-year period to avoid large jumps in annuities or contribution rates. The state Department of Employee Trust Funds will determine annuity changes for both funds in March.
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