MacIver News Service | June 22, 2015[Madison, Wisc…] Wisconsin’s Core Retirement Investment Fund and Variable Retirement Investment Fund experienced a sharp drop of 69 percent and 55 percent respectively in their net investment income during 2014, according to a Legislative Audit Bureau (LAB) report. Both funds are managed by the State of Wisconsin Investment Board (SWIB) and consist of state employee contributions through the Wisconsin Retirement System.
The audit confirms the findings of SWIB’s 2014 annual report.
In 2013, SWIB completed a five-year period where they had beaten their income goals by $2.65 billion. Though 2014 didn’t hold such good returns, the Core Fund and Variable Fund still grew their net positions by $2.3 billion and $0.1 billion each.