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.
Review changes that will simplify the Income Continuation Insurance Program for state and local employees, effective in 2024. Coverage and benefits also have been expanded to employees aged 70 or older.