By: Tonya Williams
Employee Relations Specialist
Contribution rates for most Wisconsin Retirement System (WRS) employees and employers will increase from 11.8% to 13.3% of payroll in 2013.
According to the WRS website, the increase is primarily due to two factors: the lingering effects of the global economic meltdown in 2008 and recent law changes. Contribution rate changes, whether increases or decreases, are considered normal for retirement systems that have defined or pre-funded benefits.
School District of Janesville employees that are not represented will see an increased employee contribution from 5.9% to 6.65% from each payroll. To determine the amount taken from payroll use the following formula.
Annual Salary multiplied by .0665 divided by 24 (number of checks) = Payroll Deduction
Example of Employee with $25,000 Salary: $25,000 x .0665÷24=$69.27/Each Payroll
If you have any questions regarding your WRS contribution, please contact Tonya Williams at 743-5021 or email@example.com.