For the first time in memory, state and UW employees in the Wisconsin Retirement System will have to pay into their accounts. Small contributions were deemed necessary by the Department of Employee Trust Funds Board to maintain solid funding of the WRS, which suffered large investment losses during the 2008 stock market downturn.
“The contribution rates were raised effective for 2011 and will be reviewed again prior to the 2012 calendar year,” says Matt Stohr, ETF spokesman.