State retirement fund shows signs of recovery
MADISON, Wis. (AP) — Wisconsin's retirement accounts are improving.
Retirement funds managed by the state grew 2 percent in the first six months of 2009.
The funds managed by the state Investment Board were 13 percent higher as of June 30 compared to March 31, shortly after the U.S. stock market hit its lowest point.
Despite the growth, the funds are still nearly 22 percent lower than a year ago.
Investment Board Chief Operating Officer Ken Johnson says it's too early to tell whether the funds' growth will mean retirees will get a higher pension check next year. Last year most retirees with money in the Wisconsin Retirement System saw their first-ever cuts in pension checks this spring.
Changes in benefits are based on the funds' performance as of Dec. 31.
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