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Conservatively Speaking

State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.

Legislative Audit Bureau Releases Auditor's Opinion on Employee Trust Funds Financial Statements

Audits

According to an auditor's opinion released today by the Legislative Audit Bureau (LAB)  the Wisconsin Retirement System (WRS), the largest program overseen by the Employee Trust Funds (ETF), reported net assets of $70.0 billion at the end of 2009 and provided benefits totaling $3.8 billion during 2009. After experiencing investment losses and a decrease in net retirement assets of $25.2 billion during 2008, the WRS reported positive investment returns and a net increase in retirement assets of $10.6 billion during 2009. At the end of 2009, the WRS was 88.2 percent funded based on the fair value of its assets and 99.8 percent funded based on standard actuarial measures, which smooth investment returns over a five-year period.  Here is a link to the complete auditor's opinion on Employee Trust Funds Financial Statements.  http://legis.wisconsin.gov/lab/reports/etf09.htm

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