Wisconsin Retirement System
Your Path to a Secure Retirement
Learn about the Wisconsin Retirement System and the benefits it offers. Access resources and tools to plan your financial future with confidence and clarity.
Wisconsin Retirement System
You will need to place a call to the Wisconsin Retirement System, (877) 533-5020 to request a retirement packet. It often takes up to two months to receive this packet, which contains all of the necessary forms and estimated amounts for the various retirement annuity options. When you request this packet from WRS, you will need to provide them a projected date of retirement that is less than one year in the future. This is not a date that you will be held to – it is merely a date used for the computations.
Retirement paperwork must be returned to the Wisconsin Retirement System a minimum of 60 days prior to your effective retirement date in order to get the first check in a timely fashion. You cannot return the retirement pack to WRS any earlier than 90 days before the effective retirement date.
The Wisconsin Retirement System uses two methods of computing your retirement benefits. The first method is a formula calculation that takes your highest three calendar years of pay times a factor times the number of years you have made contributions to WRS. The WRS uses one factor for service before 2000 and another factor for service in 2000 and later. The second method is a money purchase benefit calculation, which uses the total funds (contributions and earnings) that have been accumulated into your WRS account and your current age. You receive the larger of the two calculations. WRS has booklets available that describe the two calculations in detail. You can also visit the Employee Trust Funds website (http://etf.wi.gov/) and use calculators that compute estimated retirement payments.
You have the ability to purchase prior service that you may have forfeited earlier. You also have the opportunity to purchase certain governmental service. Contact the Wisconsin Retirement System for a booklet and details.
If you have military service, you will need to provide the Wisconsin Retirement System with a copy of your DD214 at any time. WRS will keep it on file for the calculation when you retire. This service will not show up on any year-end statements showing years of service. It is only used when you retire and your retirement benefit is being calculated.
If you have military service, you will need to provide the Wisconsin Retirement System with a copy of your DD214 at any time. WRS will keep it on file for the calculation when you retire. This service will not show up on any year-end statements showing years of service. It is only used when you retire and your retirement benefit is being calculated.