At its June 21, 2018 meeting, the Employee Trust Funds Board approved Wisconsin Retirement System (WRS) contribution rates for 2019. There are many complex factors that affect WRS contribution rates, such as investment performance, legislative adjustments to benefit levels, demographics, etc. It is important to remember, WRS investment experience is smoothed over a course of five years to prevent large swings in WRS contribution rates. Generally, WRS rates are decreasing in 2019 primarily due to positive investment returns.
Your contribution rate is determined by your WRS employment category. Most UW employees are covered by the General/Teacher WRS category. High level administrators (chancellors, president, vice presidents, provosts) are covered by the Executive category. Employees whose main duties are related to law enforcement or the protection of the public (police officers, fire fighters) are covered by the Protective category.
The 2019 rates will apply to all paychecks paid in 2019, beginning on the January 2, 2019 paycheck for Faculty, Academic Staff and Limited paid monthly, and January 3, 2019 for University Staff paid bi-weekly. As a reminder, WRS contributions are taken on a pre-tax basis for state and federal purposes.
For more information, please see ETF’s website.
Please contact Payroll & Benefits at (920) 465-2390 or payrollandbenefits@uwgb.edu with any questions.