MADISON, Wis. (AP) -- The two pension funds for retired state workers operated by the State of Wisconsin Investment Board posted double-digit returns in 2013.
Department of Employee Trust Funds Secretary Robert Conlin said Monday that the strong returns means there should likely be a monthly pension payment increase for retirees in the spring. That would mark the first increase in five years, as losses suffered from the 2008 recession were spread out over that time.
The Investment Board says the state's core fund grew by 13.5 percent last year. All 167,000 retirees in the Wisconsin Retirement System participate in the core fund, which includes a diverse group of both domestic and international investments.
The risker variable fund, which has about 40,000 investors, had a preliminary return of 29 percent.