Employee matters

The WRS calculator is a tool to estimate your future WRS retirement benefits. The accuracy of the estimate depends on how closely the data entered matches future interest and/or contributions to your account.

Review the instructions for the WRS calculator and scroll down to "do a calculation."

What information do I need to use the calculator?

Refer to your latest WRS Annual Statement of Benefits. You will receive your Jan. 1, 2008, statement at your work address by early May.

Enter the following information into the calculator:

• Your name, birth date, and projected retirement date.
• Your joint survivor’s birth date and whether the person is your spouse.
• Employment category and years of service:

Current information is listed in Years of Creditable Service (section 2) on your WRS statement.

Most university employees fall under the General/ Teacher/ Educational Support category. Employees such as police fall under the Protective category.

Enter Total Years of Creditable Service "Before 2000" and "After 1999." Add additional years into the "After 1999" field to project benefits into the future.

• Your three highest years of earnings and related service: Enter the current information listed in Formula Benefits Data (section 8), or project future earnings if you believe your salary will continue to increase before you retire.
• Your total fixed [Core] and variable money purchase balance:

Enter the current total in Money Purchase Balance (section 9), or project a balance that includes future interest and contributions. See the example below.

Current Money Purchase Balance Jan. 1, 2008: $317,240.00

Estimated 5 percent annual interest for 2008: $317,240 x 1.05 = $333,102.00

10 percent contributions based on $41,900 earnings for calendar year 2008: $4,190.00

Estimated Money Purchase Balance as of Jan. 1, 2009: $333,102.00 + $4,190.00 = $337,292.00

Repeat the example for each year you wish to project into the future.

Variable excess/deficiency:

If you have ever participated in the Variable Fund, then you will have a variable "excess" (positive number) or "deficiency" (negative number). Refer to ETF’s Web site to view a video explanation.

Enter the Variable Excess / Deficiency Total in Formula Benefit Data (section 8) and check the appropriate box.

Additional contributions:

If you have made personal contributions to your WRS account, the calculator can compute your payment options. See the Additional Contributions section (4).

What action should I take now?

You can use the online calculator at any time to update your retirement estimates. You may be eligible to make an individual retirement appointment with an OHR benefits counselor if you are within three years of retirement. (Details.)

If you are within 12 months of your retirement date, you should contact the Department of Employee Trust Funds directly to order an official retirement application packet.

What if I have questions or want more information?

Visit http://www.ohr.wisc.edu or e-mail benefits@ohr.wisc.edu.