MADISON, WI (WTAQ) - Most of Wisconsin's state and local government retirees could have something to look forward to this spring -- higher pension checks for the first time since 2008.
State Employee Trust Funds Secretary Robert Conlin says the core fund for retirees grew by 13.5 percent last year -- and a more risky variable fund mushroomed by 29 percent.
All 167,000 people in the state retirement system get pensions from the core fund. Around 40,000 investors are in the variable fund.
Like most of us, government retirees were hit hard by a loss of their pension funds during the Great Recession. The state spread the losses over five years of pension checks.
The retirement fund covers state, local, and public school employees except for Milwaukee city and county personnel -- which have their own system.
(Story courtesy of Wheeler News Service)