2015 WRS Contribution Rates Announced
July 9, 2014
The Department of Employee Trust Funds (ETF) announced the Wisconsin Retirement System (WRS) contribution rates for 2015. Your contribution rate is determined by your WRS employment category. Most UW employees are covered by either the general or teacher WRS category. High level administrators (chancellors, president, vice presidents, provosts…) are covered by the executive category, and those whose main duties are related to law enforcement or the protection of the public (police officers, fire fighters…) are covered by the protective category.
2014 and 2015 WRS Contribution Rates:
|
|
General/Teacher |
Executives |
Protectives w/ Social Security |
|||
|
|
2014 |
2015 |
2014 |
2015 |
2014 |
2015 |
|
Employee Contribution |
7.00% |
6.80% |
7.75% |
7.70% |
7.00% |
6.80% |
|
Employer Contribution |
7.00% |
6.80% |
7.75% |
7.70% |
10.10% |
9.50% |
|
Total |
14.00% |
13.60% |
15.50% |
15.40% |
17.10% |
16.30% |
WRS contribution rates are set on an annual basis. The 2015 contribution rates will apply to all paychecks paid in 2015 beginning on January 2, 2015 for unclassified employees paid monthly and January 8, 2015 for classified employees paid bi-weekly. As a reminder, WRS contributions are taken on a pre-tax basis for state and federal tax purposes.
Source: UW Service Center
Categories: WI Retirement System (WRS)