A BRIEF HISTORY OF OUR WISCONSIN RETIREMENT SYSTEM
I have just checked WREA.net (Wisconsin Retired Educators Association) website and learned some interesting things about the history of our Wisconsin Retirement System.
Did you know?
- In 1950 there were more than 85 public pension funds in Wisconsin and most of them were poorly funded?
- In the early 1950s, the average monthly annuity for a retired teacher was $35?
- In 1966, Wisconsin and Tennessee had the two worst public pension funds in the nation?
- Wisconsin now has one of the best retirement systems in the country?
- The Wisconsin Retirement System is well-funded at roughly 99.9%?
- That we have an automatic dividend process tied to investment returns?
- Any increases to pensions work like compound interest?
- That in other states, increases must be approved by the legislature or are tied to cost of living increases and are usually capped at 3%?
- There was a raid on your pension fund in 1987?
- That the Wisconsin Retirement System is very complicated and your pension is as unique as you are?
- That until 2000, Wisconsin annuitants had seen tremendous increases in their annuities, averaging about 6% a year in the fixed fund and about 5% a year in the variable fund?
- That there are continual threats to the pension fund and WREA monitors and opposes them?
- That WREA puts retires first?
That throughout WREAs 50-plus history, we have always worked to support retiree interests? Check out the WREA.net website for more information.
It is necessary to keep watch over our Wisconsin Retirement System.