“Brain rot,” “polarization,” and “enshittification” are examples of words chosen by different publications that supposably capture the mood of 2024, usually referred to as the word of the year.
Just looking at these examples makes me think the actual word of the year should have been “negativity bias.” (I realize that this has two words, but so does brain rot.) Negativity bias refers to our tendency to “attend to, learn from, and use negative information far more than positive information.” It can be hard to get out of the negativity rut.
Whenever I can, I prefer to approach things on a positive note. The constant flow of negativity can steal joy from our lives. In the few minutes I have your attention as you read this column, let me give you a break from negativity and identify some positive words for the year. Thankfully, the WRS gives us plenty of material.
Dependable
The WRS continues to be one of the most sustainable and best-funded public pension plans in the country, thanks to its unique plan design, funding discipline at the state and local levels, good governance, and effective investment strategies by SWIB. This means you can depend on a lifetime WRS annuity to be a part of a secure retirement plan. This is refreshing considering all the negative headlines about the retirement crisis in the country.
Supportive
The WRS distributes nearly $8 billion annually in annuity payments throughout the state. These payments support communities and the state by making them financially stronger.
According to the latest Pensionomics 2025 report released in early January by the National Institute on Retirement Security, spending from Wisconsin pension checks support 49,000 jobs and $1.5 billion in tax revenue in Wisconsin. In terms of return on investment, the report notes that each dollar invested by Wisconsin taxpayers in pensions supported $7.88 in total economic activity. This is largely because almost 80% of the revenue to fund the WRS comes from investment income.
Helpful
ETF staff are committed to providing an exceptional customer experience. We often receive compliments for our knowledgeable and personal service.
To further improve our services, ETF is in the process of modernizing its legacy systems, which were developed in the 1980s and 1990s. Modernization will allow us to provide even better support for our customers by providing online account access. This will also mitigate the risks, such as system failures, that come with operating the 27th largest public pension system in the world with outdated technology.
In our biennial budget submission, we requested funding for a new pension administration system that would be the last phase of our current modernization journey. Hopefully, we can gain the support of the administration and the legislature for our critical modernization needs.
As we go through 2025, let’s take time to appreciate the good things in life. Let’s find ways to focus less on the negative and be more grateful. Who knows? Maybe together we can influence publications around the world to consider some positive words of the year for 2025. The WRS is doing its part for a positive outlook.