August 21, 2018

Did You Know? - April, 2018 - Retirement Contribution Options

DID YOU KNOW: Enrollment in the Wisconsin Retirement System (WRS) is automatic for eligible employees. The 2018 pretax contribution rate for those eligible employees is 6.7%, with a 6.7% match made on your behalf by your employer.

DID YOU KNOW: The WRS consists of two fund options, the Core Fund (50% stocks, 50% fixed income and other assets) and the Variable Fund (100% stocks). Upon WRS eligibility you will be enrolled in the Core Fund by default unless you file an Election to Participate in Variable Fund within 30 days of your WRS eligibility date. If you elect to participate in the Variable Fund after your initial WRS eligibility date, your Variable Fund change will be effective the first of the following calendar year.

DID YOU KNOW: You can enroll in a supplemental retirement savings plans!

Your first option is the Tax Sheltered Annuity (TSA) 403(b) Program

Your second option is the Wisconsin Deferred Compensation (WDC)  program

Through both options you can invest a portion of your income for retirement on either a pre-tax basis, an after-tax basis (Roth), or a combination of both. Participation in these plans are voluntary. You make the entire contribution, there is no employer match, therefore you do not have to wait to be vested.

DID YOU KNOW that there is a Maximum Contribution Limit for 2018:

  • If under age 50: $18,500
  • If age 50 or older at any time during the year: $24,500 ($18,500 + $6,000 over 50 years of age provision)

If you are within 3 years of your normal retirement age (typically age 65), you may be eligible to use the Special Catch-Up Contribution provision allowing you to contribute an additional $3,000. Please see your Human Resources professional if you are interested in this option.

DID YOU KNOW: you can enroll, change, or stop the TSA/403(b) and WDC/457 investment options at any time during the year.

If you have any questions about retirement, please contact your H/R professionals.



You can unsubscribe at anytime