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When submitting a paper application, don't forget to? Provide a valid retirement date. ... Include all the necessary signatures. ... Provide your marriage date and marriage certificate, if applicable. ... Designate your beneficiaries and provide their birthday. ... Double check your beneficiary percentages.
Teachers can retire with full benefits at age 65 with at least 5 years of experience. Additionally, Wisconsin permits early retirment for teachers at age 55 with at least 5 years of experience. However, teachers who take that option will see their benefits reduced.
The WRS is a hybrid defined benefit plan. It contains elements of both a 401(k) or defined contribution plan and a defined benefit plan.
Normal Retirement Age Employment CategoryMinimum Retirement AgeNormal Retirement AgeGeneral employees, teachers, elected officials or state executives with at least 30 years of creditable service5557Protective occupation employees with at least 25 years of creditable service50534 more rows
If you first began WRS employment on or after July 1, 2011, then you must have 5 years of WRS creditable service. 1 year of creditable service is based on the hours you work. To earn 1 year of service, teachers need to work 1,320 hours and all other employees need to work 1,904 hours.
If you are a full-year resident of Wisconsin, generally the same amount of your pension and annuity income that is taxable for federal tax purposes is taxable by Wisconsin. If you are a nonresident of Wisconsin, your pension and annuity income is generally nontaxable by Wisconsin.
In most cases, upon retirement, employees will receive an annuity, paid monthly. The minimum retirement age to begin receiving an annuity is 55. However, the normal retirement age is 65 for general employees and employees who retire before age 65 will have an actuarial deduction made on the annuity.
If you first began WRS employment on or after July 1, 2011, then you must have 5 years of WRS creditable service. 1 year of creditable service is based on the hours you work.