Question:  What does Annual Reconciliation mean?

Answer:

Once a year, the Department of Employee Trust Funds performs an annual reconciliation. This occurs after an employee's account has been updated with the Wisconsin Retirement System annual earnings and service for the current year.

Each participant's account is reconciled to ensure that all contributions have been paid and that the appropriate amounts of hours and earnings have been credited.

Annual reconciliation occurs between January 1st and April 15th of each year. If there are reconciliation discrepancies, the employer will be contacted by the Department to assist in identifying and correcting the discrepancy. Once the annual reconciliation is complete, the Department begins the process of generating annual Statements of Benefits.

General questions about the production of the annual Statement of Benefits may be directed to Marilyn Lim at area code 608-266-0778. Employer questions specific to an individual's account may be directed to the Employer Communication Center by calling (608) 264-7900.