Question:  What is the Statement of Benefits?

Answer:

The Statement of Benefits includes:

• employee's earnings and service for the previous year,
• total creditable service under the Wisconsin Retirement System,
• employee required contributions,
• any additional contributions
• employees category of employment all are included in the annual Statement of Benefits.

The annual Statement also displays:

• separation benefit amounts if applicable,
• a death benefit amount,
• information used in calculating a retirement benefit,
• primary beneficiary designation information.

The annual Statement displays information as of the first of the calendar year. For example, Statements produced in May of 2009 will contain information as of January 1, 2009.

Employees should review all information closely for accuracy upon receipt. Employees should contact their employer first with questions they have once they have reviewed the Statement. Employees seeking additional information about service or with questions about specific benefits should contact Customer Services at (608) 266-3285 or Toll Free 1-877-533-5020.

Employers should encourage employees to review their Statements carefully and bring any questions or concerns to the employer's attention immediately. Most questions can be answered by reading the information provided in the Statement. However, if the employer is unable to resolve employee concerns about items reported to ETF (i.e.: WRS service, earnings, employment category, begin date, etc.), the employer should call the Employer Communication Center at (608) 264-7900.

Employers should also encourage employees to view the Department's online presentation on the annual employee Statement of Benefits. The one-hour video reviews information provided on the annual Statement of Benefits, including creditable service, the money purchase value of accounts, employer and employee contributions, beneficiaries, and making additional contributions. Participants should have their own document in hand while watching this presentation. Find it in our Video Library.

Employer questions specific to reporting may be directed to the Employer Communication Center at (608) 264-7900.