News Column

ETF Announces Effective Rates

February 13, 2014

MADISON, Wis., Feb. 13 -- The Wisconsin Department of Employee Trust Funds issued the following news:

The interest rates credited to the retirement accounts of active Wisconsin Retirement System (WRS) members and eligible inactive members have been set. For 2013 the Core Fund effective rate is 10.9% and the Variable Fund effective rate is 31%.

These rates affect the account balances of more than 256,000 state and local public employees, including teachers, law enforcement personnel, firefighters, and University of Wisconsin System employees. Calculated by the Department of Employee Trust Funds, the rates are based on investment performance earned by the State of Wisconsin Investment Board (SWIB).

In January SWIB announced 2013 investment returns of 13.5% for the Core Fund and 29.0% for the Variable Fund.

The effective rates are the starting point for calculating annual adjustments to WRS retirees' monthly benefit payments. Significant factors in these adjustment rates include assumed interest, annuitant mortality rates and other actuarial factors. ETF expects to announce the Core and Variable annuity adjustments in March. These adjustments will first be reflected on retirees' May 1, 2014 payments.

CC AutoTriage1pm-140214-30TagarumaMar-4638309 30TagarumaMar

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Targeted News Service

Story Tools