ETF Announces Effective Rates for WRS Funds
February 18, 2011
The Department of Employee Trust Funds (ETF) announced the interest rates credited to the retirement accounts of active Wisconsin Retirement System (WRS) members and eligible inactive members. For 2010 the Core Fund effective rate is +4.8% and the Variable Fund effective rate is +16%.
These rates affect the account balances of more than 265,000 state and local government workers, including law enforcement officers, teachers, firefighters, and University of Wisconsin employees. Calculated by ETF, the rates are based on investment performance earned by the State of Wisconsin Investment Board (SWIB). SWIB recently announced 2010 investment returns of 12.3% for the Core Fund and 15.6% for the Variable Fund.
Effective rates are the starting point for calculating annual adjustments to WRS annuitants' monthly benefit payments. Significant factors in these adjustment rates include assumed interest, annuitant mortality rates and other actuarial factors. ETF expects to announce this year's Core and Variable annuity adjustments in March.
Source: Department of Employee Trust Funds
Categories: WI Retirement System (WRS)