The Wisconsin Legislative Audit Bureau has released a report on the state Investment Board:
Significant investment losses of $23.6 billion in 2008 will affect Wisconsin Retirement System participants and employers for several years. Although both the Core Fund and the Variable Fund exceeded their ten-year benchmarks, the Core Fund’s ten-year returns were less than actuarial expectations for the long term. We recommend careful review of the earnings assumption and the new investment strategies the Investment Board is undertaking.
