Wisconsin WRS Retirement Calculator
Estimate your Wisconsin Retirement System formula annuity for general, teacher and protective members. Enter your service and final average earnings and see the age reduction ETF would apply at the age you pick.
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The formula
Monthly annuity = Final average monthly earnings x Service x Multiplier x Age reduction factor
Final average earnings is the average of your three highest years of earnings (fiscal years for teachers), divided by 12. The three years don't have to be consecutive or the last ones you worked. It isn't a career average.
- General, teachers and educational support: 1.765% before 2000, 1.6% after 1999.
- Protective with Social Security (police, sheriffs, corrections): 2.165% before 2000, 2.0% after.
- Protective without Social Security (most firefighters): 2.665% before 2000, 2.5% after.
ETF's own sample: a general member, age 59, with 25 years (5 before 2000), and $2,500 a month of final average earnings. $2,500 x 1.765% x 5 x 0.952 = $210.04, plus $2,500 x 1.6% x 20 x 0.952 = $761.60, for $971.64 a month.
The formula benefit can't exceed 70% of final average earnings for general members, 65% for protective members with Social Security, and 85% for protective members without it.
Age reduction, and why there's no Rule of 87
General members and teachers reach normal retirement age at 65. Retire earlier, from 55, and the annuity is cut permanently. Between 55 and 57 the cut is 0.4% per month. Between 57 and 65 it's 0.4% minus 0.001111% for every month of service you have.
Service is what matters. With 10 years, retiring at 60 costs 16.0%. With 25 years it costs 4.0%. At 30 years the monthly rate hits zero, so you can leave at 57 with no reduction. There's no “Rule of 87” in the WRS. That label doesn't appear anywhere in ETF's materials.
Protective members can retire from 50. Their normal retirement age is 53 with 25 years, or 54 with fewer, and the cut is 0.4% for each month below it.
Money purchase and annuity adjustments
ETF calculates a second figure, the money purchase benefit, from your contributions plus interest times an age factor, and pays whichever is higher. Your annual Statement of Benefits shows the balance.
There's no fixed COLA. Core annuities are adjusted when trust fund earnings beat the 5% assumption, in steps of at least 0.5%. Adjustments can be taken back in bad years, but the annuity never drops below its original amount.
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Frequently asked questions
How is a WRS formula annuity calculated?
Final average monthly earnings x creditable service x formula multiplier x age reduction factor. Final average earnings is the average of your three highest years of earnings, which do not need to be consecutive. ETF's sample: a general member at 59 with 25 years (5 before 2000) and $2,500 a month of final average earnings gets $971.64 a month.
What are the WRS multipliers?
For service after 1999: 1.6% for general members, teachers and educational support staff; 2.0% for protective members covered by Social Security (police, sheriffs, corrections); 2.5% for protective members not covered by Social Security (most firefighters). Service before 2000 earns 1.765%, 2.165% and 2.665%.
Does Wisconsin have a Rule of 87 or Rule of 90?
No. Normal retirement age is 65 for general members and teachers. From 55 to 57 the annuity is cut 0.4% per month. From 57 to 65 the 0.4% shrinks by 0.001111% for each month of service, so a member with 30 years has no reduction from 57. That is how long-service members retire unreduced before 65.
When can protective members retire?
From age 50. Normal retirement age is 53 with 25 years of service, or 54 otherwise. The annuity is cut 0.4% for each month below normal retirement age.
Does the WRS have a COLA?
Not a fixed one. Core annuities are adjusted each year only when trust fund earnings beat the 5% assumption, and they can never fall below the original amount. ETF also figures a money purchase benefit and pays the higher of the two.