Wisconsin Retirement System
Forfeited Service Cost Calculator
This calculator lets you produce an unofficial estimate for purchasing
WRS forfeited service. The tool will aid you in deciding whether
to purchase forfeited service. For an official cost estimate and
application to purchase forfeited service, please contact
WRS forfeited creditable service is created when you take a lump
sum separation benefit of your employee-required WRS contributions.
Under certain conditions, you are eligible to buy back these years
of forfeited service. Buying back WRS service usually increases
the amount of your WRS retirement benefit.
The WRS Forfeited Service Cost Calculator should not be
your only source of information regarding service purchases. For
additional information and important details, review the ETF resources
listed at the end of this page or contact
Information About Forfeited Service Purchases
ETF must receive your application and payment to purchase forfeited
service before you terminate WRS-covered employment. After
you terminate WRS employment, forfeited service can no longer be
To purchase forfeited service, you must have three continuous
years of WRS creditable service since returning to WRS-covered employment.
Once the return to work requirement is met, you may purchase all
or part of your forfeited service, making up to two separate purchases
each calendar year. You can only buy the amount of service you have
earned since your return.
There are several ways to pay for your forfeited service purchase:
- A personal check or money order;
- WRS additional contributions; or
- A plan-to-plan transfer from a retirement plan other than the
Forfeited Service Calculator
Using the information you provide, the calculator estimates the
cost of your forfeited service purchase. The accuracy of the estimate
depends on the accuracy of the data you enter. The calculator also
shows an estimate of the increase to a formula
retirement benefit and a money
purchase retirement benefit. The increases shown are for the
highest paying annuity option
and will be less if you select a lower paying option.
Other factors could affect the benefit increase you receive from
a forfeited service purchase. These include:
- Retiring before Normal
- Receiving WRS credit for active military service; or
- Having your WRS account split by divorce.
The calculator can also determine the cost of a partial purchase
of your forfeited service. A Partial Purchase button
appears at the bottom of the screen once the calculator determines
the cost of buying all your service.
In addition, you may use the Partial Purchase
button to calculate the amount of forfeited service you can purchase
for a specific dollar amount. For example, if the cost of your total
service is $18,000, but you only have $10,000, the calculator tells
you how much forfeited service can be purchased for $10,000. It
also shows the projected retirement benefit increase for a specific
We strongly recommend that you use the Retirement Benefit Calculator
to calculate a more accurate projection of how your forfeited service
would increase your retirement benefit.
Estimating the Return on Your Investment When Buying Service
The calculator also estimates the number of years it would take
to recover your investment by dividing the total service cost by
the estimated annual benefit increase. In the following example,
the service purchase investment is recovered in five years.
|Cost to Purchase Service
||Estimated Annual Increase
||Years to Recover Investment
In addition to investment recovery time, the calculator provides
the rate of return on your investment by dividing the estimated
annual increase by the estimated cost to purchase service. In the
following example, the rate of return is 20%.
|Estimated Annual Increase
||Cost to Purchase Service
||Rate of Return
||.20 or 20%
Continue to the Forfeited
Service Cost Calculator or contact us if you would like an
official WRS forfeited service cost estimate/application form and
For more detailed information about WRS retirement benefits, review
the following ETF resources: