Retirement Plans

Most people will spend up to one-third of their life in retirement, so it is important to prepare and save money now in order to support yourself during your golden years. Experts estimate that you will need at least 70% of your pre-retirement income to maintain the same standard of living once you stop working. Several programs are available through your UW employment to help you meet your financial needs in retirement.

Wisconsin Retirement System (WRS)

The Wisconsin Retirement System (WRS) provides retirement (pension) benefits to UW System employees and to most public employees across the State of Wisconsin.  Participation is automatic for all eligible employees, with coverage beginning on the first day an employee is eligible.  The required employee and employer contribution rates are updated annually.  The employee share is deducted on a pre-tax basis.  You may not opt out of the WRS.  The WRS is administered by the Department of Employee Trust Funds (ETF).

WRS Annual Statement of Benefits are issued by the ETF each April and are available to current employees on the My UW Portal, under Benefits Information, Statements tab.

Explanation of Annual Statement of Benefits

UW 403(b) Supplemental Retirement Program (SRP)

The UW 403(b) Supplemental Retirement Program is a supplemental retirement savings program through which you can invest a portion of your income for retirement on either a pre-tax basis, an after-tax basis (Roth), or a combination of both.  Participation in the UW 403(b) plan is voluntary.  You make the entire contribution; there is no employer match.

Wisconsin Deferred Compensation

The Wisconsin Deferred Compensation (WDC) is a supplemental retirement savings plan, regulated by Section 457 of the Internal Revenue Code.  Through the WDC plan you can invest a portion of your income for retirement either on a pre-tax or post-tax (Roth) basis or a combination of both.  Participation in the WDC plan is voluntary.  You make the entire contribution; there is no employer match.

Social Security

Social Security is a federal program that provides you (and in some cases your spouse or former spouse) with a monthly retirement benefit at age 62 or later. 

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