2014 WRS Contribution Rates Announced
June 24, 2013
The Department of Employee Trust Funds (ETF) announced the Wisconsin Retirement System (WRS) contribution rates for 2014. 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.
| General/Teacher | Executives | Protectives w/ Social Security | ||||
|---|---|---|---|---|---|---|
| 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | |
| Employee Contribution | 6.65% | 7.00% | 7.00% | 7.75% | 6.65% | 7.00% |
| Employer Contribution | 6.65% | 7.00% | 7.00% | 7.75% | 9.75% | 10.10% |
| Total | 13.30% | 14.00% | 14.00% | 15.50% | 16.40% | 17.10% |
WRS contribution rates are set on an annual basis. The 2014 contribution rates will apply to all paychecks paid in 2014 beginning on January 2, 2014 for unclassified employees paid monthly and January 9, 2014 for classified employees paid bi-weekly. As a reminder, WRS contributions are taken on a pre-tax basis for state and federal tax purposes.
See the ETF press release for additional information about how contribution rates are set.
Source: UW Service Center
Categories: WI Retirement System (WRS)