By: Tonya Williams
Employee Relations Specialist
Many teachers have inquired as to when they will start paying their employee portion of WRS. Teachers can expect to see this deduction taken out of their checks in September 2013.
Contribution rates for most Wisconsin Retirement System (WRS) employees and employers is 13.3% ; therefore, the employee portion of the WRS is 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
A new plan design for the health insurance is recommended to take effect September 1. The plan design, however, has not been approved by the Board of Education because the final decision on Act 10 is still hung up in the courts. Once the new plan design is approved, employees will start paying 10% of what the health insurance premium is. Once again, employees will pay ten percent of what the health insurance premium is not ten percent of their salary. The premiums range from $39.26 up to $126.30 per month. The highest amount that anyone will pay for health insurance under the new plan design is $126.30 per month.
If you have any questions regarding your WRS contribution and insurance premiums, please contact Tonya Williams at 743-5021 or email@example.com.