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Employers

Employer Bulletin

WRS School Districts
Vol. 18, Local E
October 26, 2001

1999 WISCONSIN ACT 11 EMPLOYER CREDIT

1999 Wisconsin Act 11 provided $200 million in credits to be used to reduce employer contributions to the Wisconsin Retirement System (WRS). These credits are issued monthly to employers, based on contribution reports. Employers have the flexibility to use the credits when the credits are issued or to hold the credits and apply them at a time when it better meets employer needs.

In order to assist employers in tracking credits issued and used, the Department has created a report showing by month the contributions reported and paid, credits issued, and credits used. This report provides a record of how the credits have or will impact required contributions for the employer.

For more information on the Act 11 Employer Credit, please see Employer Bulletin Vol. 18, No. 8 dated June 22, 2001. Or refer to the "Summary of DETF Application of the Employer Credit Reserve Created By 1999 Wis. Act 11". Both documents are available in the Employer Menu on the ETF Internet site at http://etf.wi.gov.

Report Description

Month/Year - This is the month in which contributions were paid to the WRS based on covered payroll from the prior month.

Required Contributions Due - This is the amount of contributions due in the month including contributions based on the prior month’s covered payroll, correction of over/underpayments from previous months, employee/employer additional contributions, and payment of any special invoices.

Supplemental UAAL Contributions - This includes any special payments designated for the reduction of the School District’s UAAL balance. It does not include the portion of the monthly contribution rate attributable to the UAAL.

Amount Received - This is the total dollar amount actually paid to the WRS for retirement contributions during the report month.

Act 11 Credit Issued - This is the Act 11 Credit issued during the report month. The June 2001 credit was based on contributions for covered payroll from January - December 2000. The August 2001 credit was based on contributions for covered payroll from January - June 2001. For subsequent months, the credit is based on contributions reported and paid in the previous month. Credits issued are shown as negative amounts. The total line identifies the total amount of credits that have been issued.

Act 11 Credit Taken - This is the Act 11 Credit used during the report month. The credit taken could be from credits issued during the current month or from credits issued in previous months that had not yet been used. The total line identifies the total amount of credits that have been taken.

Act 11 Credit Not Taken - This is the net amount of credits issued, less credits taken, during the month. A negative amount indicates that more credits were issued than taken during the month. The total line identifies the total amount of credits issued that have not yet been taken.

This report is being provided to you, and will also be made available to any other interested parties who request information on how the Act 11 Employer Credits have impacted individual employers.

If you have any further questions, please contact Nancy Kittleson at (608) 267-9034.

 

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