2016 WRS Contribution Rates Announced
July 15, 2015
The Department of Employee Trust Funds (ETF) has announced the 2016 Wisconsin Retirement System (WRS) contribution rates. 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.
2015 and 2016 WRS Contribution Rates:
|
|
General/Teacher |
Executives |
Protectives w/ Social Security |
|||
|
|
2015 |
2016 |
2015 |
2016 |
2015 |
2016 |
|---|---|---|---|---|---|---|
|
Employee Contribution |
6.80% |
6.60% |
7.70% |
7.80% |
6.80% |
6.60% |
|
Employer Contribution |
6.80% |
6.60% |
7.70% |
7.80% |
9.50% |
9.40% |
|
Total |
13.60% |
13.20% |
15.40% |
15.60% |
16.30% |
16.00% |
WRS contribution rates are set on an annual basis. The 2016 contribution rates will apply to all paychecks paid in 2016 beginning on January 4, 2016 for unclassified employees paid monthly and January 7, 2016 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)