Wisconsin Investment Fund Shrunk 3.3 Percent Last Year

Wisconsin Investment Fund Shrunk 3.3 Percent Last Year

Created: January 18, 2019 04:39 PM

MADISON, Wis. (AP) - The investment funds for most Wisconsin public workers and retirees shrunk slightly last year.

Advertisement – Content Continues Below

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.

Copyright 2019 The Associated Press. All rights reserved.

Relay Media Amp

UMD Kicks Off Weekend Conference on #MeToo Movement and Sexual Assault Prevention

Warm and Dry Weather Presents Fire Concerns

UMD Grad, Entrepreneur Develops App Aimed to Tackle 'Loneliness Epidemic'

St. Croix Tribal Leaders Accused of Embezzling $1.5M from Casino

Brighton Beach, Enger Park Reopen; Parts of Skyline Still Closed

Tips Sought on Northern Wis. Dog Poisonings