If you're a member of the Wisconsin Retirement System, consider taking the following actions soon to increase your pension or make other changes by year-end deadlines.
Make Additional Contributions to Your WRS Account
Active employees: Did you know you can add money to your WRS account? These additional contributions are invested by the State of Wisconsin Investment Board and earn the annual effective rate of interest.
Deadline! If you want your additional contributions to start accruing interest January 1, 2022, here are the associated deadlines:
- Electronic transfer of funds: Complete the transaction by 8:00 p.m. on December 31, 2021.
- Payment mailed to ETF via the US Bank Lockbox: Must arrive by December 30, 2021. Please use this remittance form.
- Hill Farms State Office Building drop box: Deposit by 4:30 p.m. on December 30, 2021.
Learn more about making additional contributions, including how to deposit funds electronically, dollar limits, etc.
Purchase Creditable Service
Active employees: If you are eligible to purchase creditable service, it’s worth taking the time to look into whether doing so would enhance your benefits. The most opportune time to purchase creditable service varies, depending on individual circumstances. If your earnings are based on fiscal year earnings, changes in contribution rates will affect how much you pay. Review 2022 contribution rates.
Deadline! In order to buy service based on 2021 calendar year earnings at the current cost, your application and payment must be received by the first business day of the new year, January 3, 2022.
Withdraw a Health Insurance Application/Change
It’s possible to withdraw the health insurance application/change you submitted during the open enrollment period, which concluded October 22.
Deadline! Notify your employer's benefits/payroll office in writing by December 31, 2021. Retirees should contact ETF in writing, also by December 31, 2021.
Cancel Participation in the Variable Trust Fund
WRS members who elect to participate in the Variable Fund remain in it—even into retirement—unless they elect to cancel participation. If you currently participate in the Variable Fund but want to cancel, complete and send to ETF a Canceling Variable Participation (ET-2313) form.
Deadline! If you want to cancel with an effective date of January 1, 2022, the cancellation form must be received at ETF by the first business day of the new year, which is January 3, 2022.
For more information, see the How Participation in the Variable Trust Fund Affects Your WRS Benefits (ET-4930) brochure.