MADISON – On, June 22, the Department of Employee Trust Funds (ETF) announced that required Wisconsin Retirement System (WRS) contribution rates will not change next year. The ETF Board (Board) approved the consulting actuary’s recommendation to keep next year’s rates at 2007 levels.
ETF Deputy Secretary David Stella said a small rate increase had been expected for next year, but better-than-anticipated investment returns offset the upward pressure created by improved life expectancies of program participants. “This is good news for everyone – employers, employees, and taxpayers,” said Stella. “Stable contribution rates are further evidence that the WRS is achieving the intended goal of financial stability and continues to be very well funded.”
In other action, the ETF Board approved the … Continue reading