Wisconsin Retirement System (WRS)
Retirement Benefits Calculator Disclaimer
The WRS Retirement Benefits Calculator allows you to enter data
to calculate an unofficial projection of your WRS retirement benefits.
This is not an official WRS estimate. You should use this calculator
as a tool to understand your WRS retirement benefit as a portion
of your retirement income. The information on your most recent Statement
of Benefits may be helpful in determining the data to enter
for your benefit projection. If you are considering retiring within
one year, please contact us for an official estimate.
The Retirement Benefits Calculator is designed to project retirement
benefits for most of our members. In order to be eligible for retirement
benefits, you must meet the vesting
requirement based on when your WRS employment began. If you
have an exceptionally complex account, you may want to see the Calculating
Your Retirement Benefits brochure for more information.
- Uses the data you enter and does not compare that data against
your actual WRS account. It is not connected to the actual WRS
database where your individual account data is maintained.
- Will show the higher of the formula or money purchase calculation
from your required contributions if you enter the data necessary
for a formula benefit calculation and your projected
money purchase balance.
- Will calculate a formula benefit based on creditable service
in multiple employment categories.
- Will provide all of the monthly annuity and lump sum benefit
amounts for which you are eligible. If you are interested in the
eligibility requirements for a lump sum payment, please see the
minimum monthly amount restriction in the Calculating
Your Retirement Benefits brochure.
- Will use a projected age-62 Social Security benefit amount from
a table based on your year of birth and final average WRS earnings
to calculate your Accelerated Payment option amounts unless
you enter a specific projected Social Security benefit amount.
You must enter your three highest years of earnings and the service
in those years in order for us to determine your projected Social
- Calculates monthly and lump sum benefit amounts from any additional
contribution balance that you enter.
- Adds the benefit increase from any employer additional
contribution amount that you enter to the retirement annuity amounts
from your required contributions. The benefit from employer additional
contributions will not be shown separately as a benefit from additional
- Calculates the variable adjustment to formula benefits if you
participate in the variable program and enter your projected variable
excess/deficiency balance. You may want to use the Variable
Excess/Deficiency Calculator to project your future variable
excess/deficiency balance. Additional information is also available
in the How Participation
in the Variable Trust Affects Your WRS Benefits brochure.
The calculator does not:
- Project future interest crediting or contributions to your account.
Your retirement benefit projection will be based only on the dollar
amount(s) that you enter.
- Calculate your retirement benefit for a retirement date that
is before the earliest age at which you are eligible for a retirement
benefit. Your earliest retirement age is 55, or age 50 if you
have some WRS creditable service in a protective occupation category.* Exception: If your only protective occupation
category service is purchased service, such as forfeited protective
service that you have purchased, your earliest retirement age
- Calculate your retirement benefits if you have re-established your account or are working as a rehired annuitant who is actively participating in the WRS and are going to retire again.
- Calculate your formula retirement benefit accurately if you terminated employment before July 1, 1990. The actuarial reduction
for early retirement may be incorrect if you terminated WRS employment
before July 1, 1990, and the formula multipliers will also be
wrong if you terminated WRS employment before March 9, 1984.
- Calculate an accurate formula retirement benefit if you are
an alternate payee or a participant whose account has been divided
by a Qualified Domestic Relations Order (QDRO) and you are under
the normal retirement age for your employment category (65 for
general, teacher and educational support employees, 62 for elected
officials and executive retirement plan participants, and 53 or
54 for protectives). In most cases this calculator will show benefit
amounts that are less than the amounts for which you would actually
be eligible. Exception: If you will still have at least 30 years
of creditable service when you retire (25 years for protectives),
even though a portion of your service was awarded to your former
spouse, the formula calculation will be accurate.
- Calculate your formula retirement benefit accurately if you
are under normal retirement age, have part-time service in 5 of
the last 10 years prior to retirement, and have partial years
of non-teaching creditable service. If you meet the "part-time
service in 5 of the last 10 years prior to retirement" eligibility
criteria, each partial year of non-teaching service is converted
to the amount of service credit you would have received if your
hours had been credited as a teacher, but only for the
purpose of calculating your actuarial reduction for early retirement.
- Take into account IRS requirements under 26 U.S.C. 401(a)(17),
which limits the amount of compensation that can be considered
when calculating certain defined benefits for employees who first
became WRS participants on or after January 1, 1996. That limit
may restrict your final benefit.
This calculator is a tool you can use to help project your future
benefits; there is no guarantee that you will receive these amounts.
The accuracy of the benefit projection will depend on how closely
the data you enter matches your actual WRS account data in the future.
The actual WRS benefit that you receive when you retire must be
calculated under the provisions of Chapter 40, Wisconsin State Statutes.
I have read this disclaimer and I am ready to
do a calculation.