- Associated Press - Wednesday, January 18, 2017

MADISON, Wis. (AP) - Retirees in the Wisconsin Retirement System will receive annuity increases of between 1.3 percent and 1.9 percent starting in May.

The Department of Employee Trust Funds released the estimate Wednesday. It comes after the State of Wisconsin Investment Board reported that investments in the “Core Fund” rose by 8.5 percent last year and “Variable Fund” investments rose by 10.6 percent.

Payments to the roughly 200,000 retirees and beneficiaries investing in the “Core Fund” are leveled out over a five-year period to avoid large jumps in annuity payments or contribution rates.

The nearly 40,000 retirees who invest in the more volatile “Variable Fund” will see increases of between 4 percent and 8 percent.

The exact rates will be set in March after returns are finalized and an actuarial analysis is done.

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