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Retired public workers could see pension cut
Some retired public employees could see their monthly pension payments drop by up to 13 percent next year.
Preliminary estimates from the Department of Employee Trust Funds show that investors in the Wisconsin Retirement System's core fund will likely see a reduction for the fifth straight year. Spokesman Bob Conlin says before 2008 most retirees saw fairly consistent gains every year, but they are only guaranteed the amount that was calculated upon their retirement.
Conlin says participants in the variable fund could see a 7 to 9 percent increase in that portion of their pension. He cautions these are only preliminary numbers and the final results will not be released until march.
Preliminary estimates from the Department of Employee Trust Funds show that investors in the Wisconsin Retirement System's core fund will likely see a reduction for the fifth straight year. Spokesman Bob Conlin says before 2008 most retirees saw fairly consistent gains every year, but they are only guaranteed the amount that was calculated upon their retirement.
Conlin says participants in the variable fund could see a 7 to 9 percent increase in that portion of their pension. He cautions these are only preliminary numbers and the final results will not be released until march.
