MADISON, Wis. (AP) - 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.
- Prosecutor: No water for week led to jail dehydration death
- House Republicans pass abortion bills
- Federal officials charge 15 with eagle trafficking
- Cool, wet conditions put damper on Minnesota spring planting
- Baldwin encourages Perdue to visit Wisconsin dairy farmers
- Walker hopes federal government shutdown can be avoided
- Teacher pleads not guilty to failure to report sex abuse
- Authorities ID man whose body was found in Des Moines River
- Minnesota man accused of trying to kidnap woman
- Local students compete in dairy cook off