2013 WRS Contribution Rates
October 7, 2012
The Department of Employee Trust Funds (ETF) announced the Wisconsin Retirement System (WRS) contribution rates for 2013. Most UW employees are covered by either the general or teacher WRS category. In 2013, the total WRS contribution rate for employees covered by the general and teacher WRS categories will increase from 11.8% to 13.3%. In general, the total contribution rate is split equally between the employee and employer so your contribution rate will increase from 5.9% to 6.65% in 2013. Employees covered by the protective WRS category (police officers and fire fighters, for example) will also contribute 6.65% of covered salary to the WRS in 2013.
There are many factors that impact the WRS contribution rate but contributions will increase in 2013 for primarily two reasons: past investment losses and recent changes to the structure of the WRS. See ETF's press release for details.
WRS contribution rates are set on an annual basis. The 2013 contribution rate will apply to all checks payable in 2013 beginning on January 2, 2013 for unclassified employees paid monthly and January 10, 2013 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 System Administration
Categories: WI Retirement System (WRS)