Headlines

Wisconsin Retirement System contribution rates decided

DATE:            January 11, 2019

TO:                 All Wisconsin Retirement System-contributing Employees

FROM:           Mark Thomas, Vice President of Administrative Services and Chief Financial Officer

SUBJECT:      WRS Contribution Rates for 2019

 

Happy New Year, I hope everyone had a great break and this finds you well rested and ready to go for a great 2019. It’s that time of year when the Employee Trust Funds Board sets the pension contribution rates for Wisconsin Retirement System (WRS) employees and employers, so we wanted to keep you informed.

The adjusted total contribution rate for 2019 is 13.1 percent, down from 13.4 percent in 2018.

As a reminder, the total contribution rate is split evenly between the employee and employer:

  • The 2018 contribution rate of 13.4 percent was split evenly at 6.7 percent.
  • Effective Tuesday, Jan. 1, 2019, the contribution rate of 13.1 percent will be split evenly at 6.55 percent.

Payroll Deduction:

  • Employees paid on a bi-weekly basis will have noticed this adjustment on their Friday, Jan. 4, paycheck.
  • Employees paid on a semi-monthly basis will notice this adjustment on their Tuesday, Jan. 15, paycheck.

The change will likely result in only a few dollars difference in your take home pay; after all, the percentage adjustment to the employee contribution is only 15/100 of a percent. However, if you do have any questions about how this will impact your compensation, please reach out to our Payroll Office at 608.246.6650.

In addition, if you have any questions about how the rate was determined, you can contact the Department of Employee Trust Funds at 1.877.533.5020 or http://etf.wi.gov.

Sincerely,

Mark Thomas

Vice President of Administrative Services and Chief Financial Officer

 

Published January 11, 2019.