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Members

Additional Contributions

If you are a WRS participant who is currently employed with a WRS employer you can make voluntary additional contributions to your WRS account. All active WRS employees are eligible to make voluntary after-tax contributions to the WRS. If you have made voluntary additional contributions you can also use your additional account to buy any creditable service that you are eligible to purchase.

Note: Prior to January 1, 2009, employees of certain educational institutions could make tax-deferred additional contributions to their WRS account under Section 403(b) of the Internal Revenue Code. However, beginning January 1, 2009, the Department of Employee Trust Funds (ETF) can no longer accept tax-deferred additional contributions.

If you participate in the Variable Fund, 50% of your additional contributions will be allocated to your Variable account. If you do not participate in the Variable Fund, your additional contributions will earn the annual Core interest rate.

The amount of additional contributions you can make each year is limited by Federal tax laws. The total contributions in any calendar year that apply to your annual limit cannot exceed 100% of your total gross compensation from your WRS employer for that calendar year or $49,000 for 2011, whichever is less. This amount normally increases annually; the $49,000 (for 2011) limit applies to contributions made in 2011. The other WRS contributions that apply toward the annual limit are:

  • All Employee-Required and Benefit Adjustment Contributions actually paid by you;
  • Voluntary employee additional contributions.

Use our Maximum Additional Contribution Worksheet to calculate your maximum additional contributions. For more detailed information:

 

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