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WRS Contribution Rates to Decrease in 2018

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WRS Contribution Rates to Decrease in 2018

Contributions paid by Wisconsin Retirement System employees will decrease slightly for most individuals, effective January 1, 2018.

Currently in 2017, employees contribute 6.8% of their gross salary towards their WRS account. Effective January 1, 2018, the contribution rate will decrease to 6.7%.

The 2018 rate changes are primarily due to higher favorable WRS Trust Fund investment performance. In general, when trust fund investment earnings are greater than expected, contributions rates may decrease the following year. When earnings are lower than expected, rates may increase to make up for the shortfall.

Changes in WRS contribution rates are designed to be stable, with investment returns for the Core Fund smoothed over a five-year period.

WRS contribution rates are set annually by the ETF Board, upon review of its consulting actuary's annual valuation of the system and its funding requirements. The total rates are generally split evenly between employees and and employers and adjusted annually. Contributions are paid in full, ensuring full funding of future WRS benefits.

 

Gau, Julie
Human Resources & Diversity
6/29/2017

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