MADISON — Wisconsin's state
budget is now projected to end with $138 million more than
previously thought when it cleared the Legislature last year.
The nonpartisan Legislative
Fiscal Bureau on Wednesday said the current two-year budget
that ends on June 30, 2019, will end with a $385 million
Republican co-chairs of the
Legislature's budget committee Sen. Alberta Darling and Rep.
John Nygren heralded the news. They say it shows "common
sense reforms and prudent fiscal budgeting have put us on
great fiscal standing."
The Fiscal Bureau says the
higher forecast was largely the result of $76 million more in
estimated tax collections, a nearly $98 million drop in
spending caused mostly by re-estimates of debt payments and a
$38 million fund transfer
MADISON — The primary
investment fund for most Wisconsin public employees and
retirees grew more than 16 percent last year, roughly double
its performance in 2016.
The State of Wisconsin
Investment Board reported Wednesday that based on preliminary
numbers the $100 billion "Core Fund" grew 16.2
percent for the year. The five-year return is 8.6 percent.
Both are above the performance
About 622,000 state employees
invest in the "Core Fund."
Payments to the roughly 198,000
retirees and beneficiaries drawing from the fund are leveled
out over a five-year period to avoid large jumps in annuity
payments or contribution rates.
The more volatile
"Variable Fund," which is less diverse than the
"Core Fund" and comprised entirely of stocks, gained
23.2 percent in 2017. Its five-year return is 13.3 percent.
Annuity payment rates are set