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Secretary Voelker: The Value of Dependability

Some days I think the ideal of dependability is declining in our society. My view is likely skewed because I am in a position in which more than 663,000 individuals are counting on me to safeguard their retirement money. As a result, dependability is often the first thing I think about in the morning and the last thing I think about before bed.

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Denson: Managing Volatility Today for Future Success

If you have been following the news over the past year, you don’t need me to tell you the story of the financial markets of 2022. The good news is that strong absolute investment returns in three of the past four years will help mitigate the effects of 2022 trust fund investment performance on upcoming annuity adjustments, as well as lend stability to contribution rate changes in 2024.

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WRS in Spotlight for Stability and Sustainability

Pew Charitable Trusts has cited the WRS as one of three public employee pension plans that has maintained high funded ratios at predictable costs over the past 20 years. The WRS has “exemplary characteristics,” Pew noted, “including a path to retirement security for all workers within clearly defined cost targets, a plan for managing risk, and a commitment to ensuring that policies are transparent and clearly communicated to stakeholders.”

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ETF Offers In-Person Group Appointments

After a two-year hiatus ETF has resumed hosting in-person group retirement appointments outside of the Madison area.

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Legislative Update

ETF submitted its biennial budget request to the Department of Administration in September, after review and endorsement by the ETF Board. The period covered is July 1, 2023 – June 30, 2025. Here are a few highlights of our biennial budget request and next steps.

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Denson Wins Asset Owner Industry Innovation Award

SWIB Executive Director/Chief Investment Officer Edwin Denson was named winner of Chief Investment Officer magazine’s 2022 Asset Owner Industry Innovation Award, in the category of public defined benefit pension funds with assets greater than $100 billion.

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ETF Projections for This Year's Effective Rates and Annuity Adjustments

Based on SWIB's preliminary investment returns for 2022, ETF has prepared projections for Core Trust Fund and Variable Trust Fund effective rates and annuity adjustments.

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Private Equity Provides Additional Investment Opportunities

While stocks, or public equities, typically grab the headlines for their performance — especially in a negative-return environment — private equity investments have been growing in importance because of the diversification and solid returns this asset class can provide, even in down markets.

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Changes Coming to ICI Program for State and Local Employees

The GIB approved changes to simplify the Income Continuation Insurance Program for employees and streamline program administration. Consider enrolling in ICI. 2023 premiums are $0 for local employees and being reduced by 20% for state employees.

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WDC Program News

We bring you news about the WDC Program, including 2023 participant fee increases; expanded target date retirement fund choices for keeping your account safe and secure; and new IRS contribution limits.

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Well Wisconsin: What’s Your Well-Being Purpose for 2023?

Well Wisconsin is here to support you with living your best life and feeling well along the way. Attend an in-person event on Feb. 16 – or view it online – with UW-Madison’s Dr. Christine Whelan, who will discuss how a sense of purpose in life correlates with better health; and check out all the resources available to support you in staying true to your purpose and living well throughout all of 2023!

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Nick Appointed Board Chair

Gov. Tony Evers has appointed Trustee Barbara Nick as chair of the SWIB Board of Trustees to succeed Trustee David Stein. Evers also appointed Clyde Tinnen as the new vice chair, a position previously held by Trustee Nick.

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The SWIB Podcast Returns in 2023

The SWIB Podcast will return for another season in 2023. The SWIB Podcast is where members of the WRS can turn to for timely information about the investments that help fund the state’s pension system.

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Governing Board Election Update

Tony Przybylski, a mathematics instructor at Madison College, will serve on the Teachers Retirement Board as the WRS technical college district teacher member seat.

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Review Life Insurance Premiums Effective April 1

The Group Insurance Board recently approved life insurance premium rates for all state and local government employees who participate in the State of Wisconsin Group Life Insurance Program. Find out how the rates, effective April 1, will affect you.

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A Look at WRS 2021 Financials

ETF has released the Wisconsin Retirement System Annual Comprehensive Financial Report for the year ended December 31, 2021. The WRS paid approximately $6.4 billion in benefits in 2021. The WRS funding ratio calculated in accordance with accounting standards was approximately 106% as of December 31, 2021. Sound funding and plan design principles continue to keep the WRS financially strong.

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Upcoming Governing Board Meetings

Find out when the governing boards of the Wisconsin Retirement System and the SWIB Board of Trustees are scheduled to meet, and how to send correspondence to the boards.

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