Effective Jan. 1, 2024, administrative fees paid by participants of the Wisconsin Deferred Compensation Program (WDC) will decrease by an average of 40% as recently approved by the Deferred Compensation Board. 

WDC logo

The fees are tiered based on participants’ account balance and cover the cost of recordkeeping and related plan services under the WDC. 

Participant fees are the primary source of plan administration funding. By law, the plan is self-supporting, and state funds may not be used for WDC administration.

Lower Fees

The level of participant fees is closely correlated with WDC plan assets. The Board was able to lower the fees due to favorable market conditions, resulting in more participants with higher-tiered account balances.

Those with account balances of $5,000 or less will continue to participate without the need to pay fees. The table shows fees based on the participant’s balance.

 WDC Administrative Fees Starting Jan. 1, 2024

Participant Account BalanceMonthly Fee
Over $250,000$10.25


Plan and Trust Changes

The Board also amended the WDC’s Plan and Trust Document to adhere to the recently passed SECURE 2.0 Act of 2022, which provides mandatory and optional changes for retirement plans.

Effective Jan. 1, 2024, Section 325 of SECURE 2.0 extends the pre-death required minimum distributions exemption to Roth amounts in plans. The Board incorporated this provision in the WDC’s Plan and Trust Document.

The Board also updated and simplified the language used in Articles 2.04 and 2.06 of the Plan and Trust Document by consolidating references to Internal Revenue Code provisions.

It further modified the definition of a WDC participant to clarify eligibility to include those intending to rollover funds from other qualified plans to the WDC.