If you leave all WRS employment before reaching minimum retirement age, you have two options:

Option 1  

Keep your WRS account with ETF. Individuals who choose this option become inactive members and their account continues to earn interest until a benefit is taken. When you reach your minimum retirement age (and are vested), you will be eligible for a retirement benefit

Retirement benefits include:
  • Employee-required contributions
  • Employer contributions
  • Voluntary additional contributions, if applicable
  • Earned interest

Option 2

Take a separation benefit.

A separation benefit is a one-time payment consisting only of:
  • Employee-required contributions
  • Voluntary additional contributions, if applicable
  • Earned interest

    Carefully consider the consequences of taking a separation benefit.

    If you take a separation benefit now, instead of taking a retirement benefit later, your WRS account will be closed and you will:

    • Lose all employer contributions and interest (approximately half the value of your WRS account)
    • Lose (forfeit) the creditable service you earned prior to taking the separation benefit, and the benefit rights associated with that service
    • Lose eligibility for future health insurance coverage
    • Be subject to tax penalties that may significantly reduce the amount of your separation payment

    Before deciding, see the Separation Benefits (ET-3101) brochure for additional information. If eligible, ETF will mail you the necessary documentation for a rollover to another qualified retirement plan.