Wisconsin Retirement System (WRS)
The Wisconsin Retirement System (WRS) is a public pension plan available to state employees and certain local government workers. The WRS offers both a defined benefit plan (pension) and a defined contribution plan, depending on your position.
Key Features:
Defined Benefit Plan: Employees in the WRS who qualify for a pension are guaranteed a fixed monthly payment based on their years of service and salary history. The pension is adjusted annually for inflation, ensuring that retirees’ purchasing power is maintained.
Defined Contribution Plan: Similar to a 401(k), employees can make contributions into a personal account and have it grow based on investments.
The WRS is one of the most comprehensive pension systems in the country, offering stability to Wisconsin state employees upon retirement.
By: rahul54331
26-Nov-2024 07:14 pm
User Website : https://trekis.net/retirement-income-plans-in-wisconsin/
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