Retirement Benefits

The Wisconsin Retirement System (WRS) provides retirement benefits for employees of the State of Wisconsin and most local units of government in Wisconsin. At the University of Wisconsin Milwaukee this includes Faculty, Academic Staff and Classified employees. The Wisconsin Retirement System (WRS) is administered by the State Department of Employee Trust Funds. As a covered employee, you have an individual account to which "employee-required" retirement contributions — 5% of salary for most employees — and investment earnings are credited. Despite the name "employee-required," this is paid for in almost all cases by the University.

• When you retire, you will receive the higher of two pensions:
  • a formula benefit based on your years of service and highest three years of earnings; or
  • a money-purchase benefit based on the accumulation in your employee-required retirement account plus a 100% match from the WRS employer reserve.
• WRS retirement benefits are usually not payable in a lump sum. You select a monthly annuity payable for your life only, or for your life and that of a joint survivor, or for your life with a guaranteed number of payments.
• Vesting requirements: none
• Contribution rates (adjusted annually after actuarial review):

  For most employees the University pays the entire contribution	Employee-Required Contribution (Deposited in your WRS account)	Employer-Required Contribution (Deposited in the WRS employer reserve)
  General Employees and Teachers	5% of salary	5.6% (includes 1% benefit adjustment contribution)
  Executives	3%	8.5%
  Protectives	5.1%	14.8% (includes 6.6% Duty Disability contribution)

Group Health Insurance for Retirees
Retirement Publications