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