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Chapter Topics: [ I. Administration & Governance] [ II. Funding, Budget and Operations] [ III. Personnel ] [ IV. Other Personnel Policies ] [ V. Curriculum and Related Policies ] [ VI. Student Academic Affairs ] [ VII. College Relations ] [ VIII. Resources & Services ] [ Glossary of L&S Terms ]

Chapter IV Contents: [ IV.1 Orientation of New Staff ] [ IV.2 Employee Benefits: Overview ] [ IV.3 When a Staff Member Retires ] [ IV.4 Joint Governance Appointments ] [ IV.5 Awards and Honors for Faculty and Staff ] [ IV.6 Faculty and Staff Liability ] [ IV.7 Review of Tenured Faculty ] [ IV.8 Reporting Outside Interests & Activities ] [ IV.9 Overloads and Summer Appointments ] [ IV.10 Sexual Harassment Policies & Procedures ] [ IV.11 Nepotism, Conflict of Interest ] [ IV.12 Vacation Policy ] [ IV.13 Sick Leave Policy ] [ IV.14 Leave of Absence, Temporary Assignment ] [ IV.15 Extensions of the Tenure Clock ] [ IV.16 Absences from Madison ] [ IV.17 Disability Accommodation ] [ IV.18 Personnel Records: Content & Preservation ] [ IV.19 Tuition Reimbursement ] [ IV.20 Faculty Personnel Committee ] [ IV.21 UW-Madison Domestic Partnership Policy ] [ IV.22 Inclement Weather Guidelines ] [ IV.23 Telecommuting Policy ]

IV.3 WHEN A STAFF MEMBER RETIRES

The Wisconsin Retirement System (WRS) is administered by the State Department of Employee Trust Funds. It is designed to provide retirement benefits that, when added to Social Security, will total 50% - 85% of gross income.  (WRS provides an online retirement benefits calculator, as well as an explanation of the calculation.) The normal retirement age for most employees at the University is 65. Employees may retire as early as age 55, but the monthly annuity may be actuarially reduced depending on years of service. The WRS Annual Statement of Benefits is sent to WRS participants each April and contains specific information about years of service and annual earnings used to calculate retirement benefits. The Employee Compensation and Benefits Services website offers several links to retirement information, and general information can be found in the pamphlet Employee Benefits Upon Retirement and the WRS section of the Employee Benefits Booklet.

It is recommended employees contact an employee benefits coordinator at least 12 months before retirement for information on application procedures and annuity options. Information about how to set up an appointment with an Employee Compensation and Benefits Counselor can register for an appointment under the link to "Benefits Appointments", located at http://www.ohrd.wisc.edu/ohrdcatalogportal/Default.aspx .

The Office of Human Resources also publishes a brochure describing the "Privileges for UW-Madison Retirees". This brochure is a comprehensive collection of certain privileges extended by various offices of the university to UW-Madison retirees (academic staff, classified staff and faculty). To request a hard copy, contact the Office of Human Resources, 166 Bascom Hall, 500 Lincoln Drive, Madison, WI 53706-1380.

For information about requesting emerita/emeritus status for retiring faculty and academic staff, please see the discussion on Retirement in Chapter III.7.

Link updated August 2009
By: Elaine M. Klein
Per: DA

 

It is the nature of this document to be a work in progress.

The L&S Handbook is produced and hosted by the UW-Madison College of Letters and Science.
South Hall, 1055 Bascom Mall, Madison WI  53706
This document is updated annually each summer; however, significant additions may be made at any time. Departments
will be alerted to these when they are made. Annual updates are underway as of August 1, 2008.
Contact:  Elaine M. Klein, Webmaster/Editor, L&S Online Handbook
klein@ls.admin.wisc.edu or (608) 265-8484
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