{"id":2340,"date":"2014-10-22T16:24:30","date_gmt":"2014-10-22T21:24:30","guid":{"rendered":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/?page_id=2340"},"modified":"2025-02-13T17:11:32","modified_gmt":"2025-02-13T23:11:32","slug":"ret","status":"publish","type":"page","link":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/ret\/","title":{"rendered":"Retirement"},"content":{"rendered":"\n\t\t\t\t\t<div id=\"cfct-build-2340\" class=\"cfct-build grid\">\n\t\t\t\t\t\t<div class=\"row\"><div class=\"col-md-3 cfct-block\">\n\t\t\t<div class=\"cfct-module cfct-supplemental\">\n\t\t\t\t    <div class=\"cfct-mod-content hidden-print\">\n<h3 class=\"cfct-mod-title\" id=\"title-cfct-module-d110f312c30c291bc888f4dcd5a93d7a\" hidden-print\">Life Events<\/h3>    <nav class=\"widget widget_meta\" aria-labelledby=\"title-cfct-module-d110f312c30c291bc888f4dcd5a93d7a\">\n\n        <div class=\"menu-cfct-module-d110f312c30c291bc888f4dcd5a93d7a-container\"><ul id = \"menu-life-events\" class = \"menu nav\"><li id=\"menu-item-13804\" class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-13804\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/\">Life Events Home<\/a><\/li>\n<li id=\"menu-item-6256\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-6256\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/\">Employment Changes<\/a>\n<ul class=\"sub-menu\">\n\t<li id=\"menu-item-6272\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6272\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/fasl-to-univ-staff\/\">Change from Faculty, Academic Staff or Limited to University Staff<\/a><\/li>\n\t<li id=\"menu-item-6273\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6273\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/univ-staff-to-fasl\/\">Change from University Staff to Faculty, Academic Staff or Limited Appointee<\/a><\/li>\n\t<li id=\"menu-item-6274\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6274\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/chapct\/\">Change in Appointment Percentage<\/a><\/li>\n\t<li id=\"menu-item-16464\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-16464\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/furloughs\/\">Furloughs<\/a><\/li>\n\t<li id=\"menu-item-6275\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6275\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/layoff\/\">Layoff<\/a><\/li>\n\t<li id=\"menu-item-6281\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6281\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/loa\/\">Leave of Absence<\/a><\/li>\n\t<li id=\"menu-item-6278\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6278\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/eligiblewrs\/\">Moving to WRS Covered Employment<\/a><\/li>\n\t<li id=\"menu-item-6279\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6279\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/ra\/\">Rehired Annuitant<\/a><\/li>\n\t<li id=\"menu-item-6280\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6280\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/ret\/\">Retirement<\/a><\/li>\n\t<li id=\"menu-item-16725\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-16725\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/twr\/\">Temporary Work Reduction<\/a><\/li>\n\t<li id=\"menu-item-6277\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6277\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/term\/\">Termination<\/a><\/li>\n\t<li id=\"menu-item-6276\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6276\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/transferuw\/\">Transfer to a Different Universities of Wisconsin Institution<\/a><\/li>\n\t<li id=\"menu-item-6283\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6283\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/transferstate\/\">Transfer To or From a State Agency<\/a><\/li>\n\t<li id=\"menu-item-6284\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6284\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/empcha\/temp-to-nontemp\/\">WRS Temporary to WRS Non-Temporary<\/a><\/li>\n<\/ul>\n<\/li>\n<li id=\"menu-item-6255\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-6255\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/\">Family Changes<\/a>\n<ul class=\"sub-menu\">\n\t<li id=\"menu-item-6258\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6258\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/birth-adoption\/\">Birth or Adoption<\/a><\/li>\n\t<li id=\"menu-item-6265\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6265\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/name-address\/\">Change in Address, Name, or Gender<\/a><\/li>\n\t<li id=\"menu-item-6263\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6263\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/child-loss-dep-status\/\">Child Loss of Dependent Status<\/a><\/li>\n\t<li id=\"menu-item-6266\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6266\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/death\/\">Death of Employee<\/a><\/li>\n\t<li id=\"menu-item-6264\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6264\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/death-spouse-dp-child\/\">Death of Spouse, Domestic Partner or Child<\/a><\/li>\n\t<li id=\"menu-item-6269\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6269\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/divorce\/\">Divorce<\/a><\/li>\n\t<li id=\"menu-item-6271\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6271\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/dp\/\">Domestic Partnership<\/a><\/li>\n\t<li id=\"menu-item-8107\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-8107\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/gain-coverage\/\">Gain of Other Coverage<\/a><\/li>\n\t<li id=\"menu-item-6267\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6267\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/legal-guardianship\/\">Legal Guardianship<\/a><\/li>\n\t<li id=\"menu-item-8108\" class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-8108\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/loss-of-coverage\/\">Loss of Other Coverage<\/a><\/li>\n\t<li id=\"menu-item-6262\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-6262\"><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/life-events\/famchng\/marriage\/\">Marriage<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div>    <\/nav>\n<\/div>\n\n\t\t\t<\/div><\/div><div class=\"col-md-9 cfct-block\">\n\t\t\t<div class=\"cfct-module uwsa-rich-text\">\n\t\t\t\t<div class=\"cfct-mod-content copy\"><h3>Are you thinking of retiring?<\/h3>\n<p>You are eligible to apply for a retirement annuity from the Wisconsin Retirement System (WRS) if:<\/p>\n<ul>\n<li>You are at least 55 years old (at least 50 if covered by the Protective WRS category); and<\/li>\n<li>You are vested* in the WRS; and<\/li>\n<li>You end all WRS-covered employment.<\/li>\n<\/ul>\n<p>*Employees who are first covered by the WRS <strong>on or after<\/strong> July 1, 2011 must have five years of WRS creditable service to be vested in the WRS. Employees who were covered by the WRS <strong>prior to<\/strong> July 1, 2011 are immediately vested in the WRS. Once vested, an employee is eligible to receive a retirement benefit. A full year of creditable service is determined as follows:<\/p>\n<ul>\n<li>For faculty, academic staff, or limited appointees 1,320 hours from 7\/1 \u2013 6\/30.<\/li>\n<li>For university staff employees, 1,904 hours from 1\/1 \u2013 12\/31.<\/li>\n<li>For executives, 1,904 hours are needed from 7\/1 \u2013 6\/30. Executives are employees that hold the highest level positions (for example: president, vice president, chancellor).<\/li>\n<li>Note: An individual can earn up to 1.0 year of creditable service in a 12-month period. Employees may earn a partial year of creditable service. A partial year is a percentage of the year equivalent to the hours spent in paid status (that is actual hours worked, vacation, sick leave or other paid leave status) divided by the number of hours required for a creditable year of service.<\/li>\n<\/ul>\n<p>Employees are eligible for a WRS retirement annuity or lump sum retirement benefit once they have <strong>five years<\/strong> of creditable service.<\/p>\n<h3>Preparing for Retirement<\/h3>\n<p>There are several resources to review before you decide to retire:<\/p>\n<ul>\n<li><a href=\"https:\/\/etf.wi.gov\/publications\/et2119\/direct\" target=\"_blank\" rel=\"noopener\">Benefits Handbook (ET-2119)<\/a>: General information about the benefit plans administered by the Department of Employee Trust Funds (ETF).<\/li>\n<li><span class=\"doc-icon\"><a class=\"doc-type pdf\" href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/download\/ret\/benatret.pdf\" target=\"_blank\">Employee Benefits at Retirement (UWS 73)<span class=\"sr-only\"> pdf<\/span><\/a><\/span>\r\n: Outlines what happens to your benefits in retirement.<\/li>\n<li><span class=\"doc-icon\"><a class=\"doc-type pdf\" href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/download\/ret\/roadmap.pdf\" target=\"_blank\">Roadmap to Retirement Planning<span class=\"sr-only\"> pdf<\/span><\/a><\/span>\r\n: Suggested steps you may want to take to prepare for retirement.<\/li>\n<li><a href=\"https:\/\/etf.wi.gov\/retirement\/applying-retirement\/retirement-checklist\" target=\"_blank\" rel=\"noopener\">Department of Employee Trust Funds (ETF) Retirement Checklist<\/a>: Ready to retire? Steps to help you plan, apply, and succeed.\n<ul>\n<li>Estimate your retirement annuity using one of <a href=\"http:\/\/etf.wi.gov\/calculator.htm\" target=\"_blank\" rel=\"noopener\">ETF\u2019s online calculators<\/a>.<\/li>\n<li>Schedule an appoint with ETF. Before scheduling an appointment, you must request and receive a benefit estimate from ETF. To schedule an appointment, use the <a href=\"https:\/\/appointments.etf.wi.gov\/\" target=\"_blank\" rel=\"noopener\">appointment scheduling system<\/a> or call ETF at (877) 533-5020.<\/li>\n<\/ul>\n<\/li>\n<li><a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/sick-leave-credit-conversion-program\/\" target=\"_blank\" rel=\"noopener\">Sick Leave Credit Conversion Program<\/a>: Information about converting unused sick leave to credits to pay for State Group Health Insurance after you leave state employment.<\/li>\n<li><a href=\"https:\/\/etf.wi.gov\/video\/choosing-when-retire\" target=\"_blank\" rel=\"noopener\">Video &#8211; Choosing When to Retire<\/a> (14 minutes)<\/li>\n<li>Attend a <a href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/retirement-appt\/\" target=\"_blank\" rel=\"noopener\">Group Retirement Appointments with ETF<\/a>.<\/li>\n<li><\/li>\n<li>Estimate your Social Security benefits using the <a href=\"http:\/\/www.ssa.gov\/retire2\/estimator.htm\" target=\"_blank\" rel=\"noopener\">Social Security Administration\u2019s online calculator<\/a>.<\/li>\n<\/ul>\n<h3>Additional Resources<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.etf.wi.gov\/members\/how_to_retire.htm\" target=\"_blank\" rel=\"noopener\">ETF &#8211; Applying For Retirement<\/a><\/li>\n<li><a href=\"https:\/\/etf.wi.gov\/video\/social-security-you-through-lifes-journey\" target=\"_blank\" rel=\"noopener\">Webinar: Social Security-With You Through Life&#8217;s Journey<\/a><\/li>\n<li><a title=\"Retirement &amp; Savings Plans\" href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/ret\/\" target=\"_blank\" rel=\"noopener\">Retirement &amp; Savings<\/a><\/li>\n<li><a href=\"https:\/\/www.dol.gov\/sites\/dolgov\/files\/EBSA\/about-ebsa\/our-activities\/resource-center\/publications\/taking-the-mystery-out-of-retirement-planning.pdf\" target=\"_blank\" rel=\"noopener\">Taking the Mystery Out of Retirement Planning<\/a> (U.S. Department of Labor)<\/li>\n<li><a href=\"https:\/\/www.dol.gov\/agencies\/ebsa\/about-ebsa\/our-activities\/resource-center\/publications\/retirement-toolkit\" target=\"_blank\" rel=\"noopener\">Retirement Toolkit<\/a> (U.S. Department of Labor)<\/li>\n<li><a href=\"https:\/\/etf.wi.gov\/benefits\/life-changes-and-my-benefits\/financial-power-attorney\" target=\"_blank\" rel=\"noopener\">ETF &#8211; Financial Power of Attorney web page<\/a><\/li>\n<li><a href=\"https:\/\/etf.wi.gov\/benefits\/life-changes-and-my-benefits\/guardianship\" target=\"_blank\" rel=\"noopener\">ETF &#8211; Guardianship web page<\/a><\/li>\n<\/ul>\n<\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"cfct-module uwsa-callout\">\n\t\t\t\t<div class=\"cfct-mod-content callout standard grey-bg\">\n    <h4>Beneficiary Designations<\/h4><p>Remember to review and update your beneficiary designations when you have a life event to make sure that your benefits are paid according to your wishes. Benefit plans that have beneficiary designations include life insurance plans, retirement plans and the health savings account.<\/p>\n<p><a class=\"btn btn-primary btn-sm \" target=\"_blank\" role=\"button\" href=\"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/beneficiary\">For more information review the Beneficiary Information web page.<\/a><\/p><\/div>\n\n\t\t\t<\/div>\n\t\t\t<div class=\"cfct-module uwsa-rich-text\">\n\t\t\t\t<div class=\"cfct-mod-content copy\"><p><em>Every effort has been made to ensure this information is current and correct. Information on this page does not guarantee enrollment, benefits and\/or the ability to make changes to your benefits. <\/em><\/p>\n<\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"cfct-module cfct-lastupdate\">\n\t\t\t\t<div class=\"listing-module\"><p><span class=\"item-date\">Updated: 02\/13\/2025<\/span><\/p><\/div>\n\t\t\t<\/div><\/div><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t","protected":false},"excerpt":{"rendered":"","protected":false},"author":20,"featured_media":0,"parent":63,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2340","page","type-page","status-publish","hentry","cfct-can-haz-build"],"_links":{"self":[{"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/pages\/2340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/comments?post=2340"}],"version-history":[{"count":4,"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/pages\/2340\/revisions"}],"predecessor-version":[{"id":28075,"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/pages\/2340\/revisions\/28075"}],"up":[{"embeddable":true,"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/pages\/63"}],"wp:attachment":[{"href":"https:\/\/wwwtest.wisconsin.edu\/ohrwd\/benefits\/wp-json\/wp\/v2\/media?parent=2340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}