Wisconsin Retirement System
The Wisconsin Retirement System (WRS) is the 8th largest pension fund in the US and the 25th largest public or private pension fund in the world. It provides retirement (pension) benefits to state and local employees. Other benefits available include:
Participation is mandatory for all-eligible employees and enrollment is automatic.
Both employees and employers are required to make pre-tax contributions to your WRS account each pay period. Contribution rates are updated annually.
Vesting Requirement: If you began WRS employment on or after 7/1/2011, you must have 5 years of WRS creditable service before being eligible to receive a retirement benefit. This means you must have 5 years of service under the Wisconsin Retirement System before you are eligible to receive the employer contribution towards your account at retirement. If you leave state employment before you are vested, you will only receive your contributions plus any interest.
Two funds are available under the WRS. By default, all contributions are invested in the Core Fund unless you elect to participate in the Variable Fund.
WRS investments are managed by the State of Wisconsin Investment Board (SWIB)
Employees can make voluntary, after-tax additional contributions to their WRS account
The WRS is administered by the Department of Employee Trust Funds (ETF). For more information about the WRS, please go to ETF's website.