Wisconsin WRS Retirement Calculator: How to Use It
The calculator follows ETF's Calculating Your Retirement Benefits brochure (ET-4107). It computes the formula annuity; ETF also computes a money purchase benefit and pays the higher one.
The inputs
Employment category
General (including teachers and educational support), protective with Social Security, or protective without Social Security. Elected officials and executives aren't modeled.
Service and service before 2000
Your creditable service from your Statement of Benefits, and how much of it was earned before 2000, which gets the higher pre-2000 multiplier.
Final average earnings
The average of your three highest years. Enter it as a yearly figure; the calculator divides by 12.
How the result is built
Formula benefit x age reduction factor, capped at the maximum for your category. The general age reduction factor is 0.4% per month from 55 to 57 and (0.4% minus 0.001111% per month of service) from 57 to 65, rounded to three decimals like ETF's table. It reproduces ETF's sample (factor .952 at 59 with 25 years).
Frequently asked questions
Is the WRS final average a career average?
No. It is your three highest years of earnings, which do not need to be consecutive.
What are the protective multipliers?
2.0% with Social Security and 2.5% without, for service after 1999.
Can I retire at 57 unreduced?
Yes if you have 30 years of service. With less, the 57-to-65 reduction depends on your months of service.
Does the calculator include the money purchase benefit?
No. It needs your account balance. ETF pays the higher of the formula and money purchase amounts.