IMPORTANT: Fiscal Year 2024 (application due date May 1, 2024) is the last year to request to have wages accelerated under the WRS-Single Payroll Transition Program.
The WRS-Single Payroll Transition Program is available to eligible employees who are retiring between June 15, 2022 and February 15, 2025 and whose WRS reported earnings may be affected by the 2021 transition from a monthly to a biweekly payroll.
Overview
In July 2021 the Universities of Wisconsin modified its payroll practices for employees paid monthly by transitioning them to the biweekly payroll cycle. Prior to July 2021, employees paid monthly were paid-to-date for all days worked within a month. Generally, monthly paid employees were paid on the following first of each month, except for June, when employees were always paid June 30th (prior to the end of the fiscal year).
Employees paid biweekly receive a paycheck approximately two weeks after the end of the payroll period, which typically results in 26 paychecks during any given fiscal year (a fiscal year is July 1 to June 30). With the transition to a biweekly payroll cycle, employees received 25 paychecks instead of 26 for fiscal year 2022 (July 1, 2021 to June 30, 2022) because employees were paid for all days worked in June 2021 on the June 30, 2021 paycheck. This resulted in a reduction in earnings reported to the Wisconsin Retirement System (WRS) for fiscal year 2022 because earnings are reported to WRS on the date they are paid.
Employees’ WRS reported earnings may be affected by the monthly to biweekly payroll practice change if:
- They are separating from service with the Universities of Wisconsin during one of the next three fiscal years (2022, 2023, 2024),
- Are including fiscal year 2022 as one of their highest years of earnings for WRS purposes, and
- Are eligible for the WRS formula benefit*
To smooth the reporting of earnings, Universities of Wisconsin will allow eligible employees to apply to make a one-time election to accelerate payment of wages for days worked at the end of their last full fiscal year of employment. This means wages will be paid in June for all days worked in June. This will result in higher reported earnings for the last full fiscal year worked and address the timing difference of when earnings are paid and reported between June and July 2022.
Employees who retire after February 15, 2025 will have regularly been receiving 26 paychecks per fiscal year for more than three years and their WRS reported earnings will not be affected.
Employees on 9-month contract who do not have any earnings from summer session(s) and/or summer service(s) will not benefit from this program.
*The final calculation, which is done after you separate from service, may change the method your benefit is calculated from money purchase to formula, so you may want to apply for this program even if your benefit may initially be money purchase.
Eligibility
Faculty, academic staff, and limited appointees who are vested in the WRS, are of minimum retirement age as of the date of their separation and meet all of the following conditions may apply for the Program:
- Had an active appointment and were paid on the monthly pay date of June 30, 2021;
- Separate service between June 15, 2022 and February 15, 2025;
- Perform compensable work between June 15 and June 30 in the fiscal year in which the WRS-Single Payroll Transition Program Application is being submitted; and
- Submit a completed WRS-Single Payroll Transition Program Application prior to May 1 of the year in which the payment of wages will be accelerated.
Frequently Asked Questions
Review the for details on the program and application due date.
Application
Submit the following to your human resource representative by the due date for the fiscal year you plan to apply for the Program:
- Completed WRS-Single Payroll Transition Program Application
- A copy of an official WRS Retirement Benefit Estimate (ET-4301) that is dated within 12 months of your separation date (required). To request an estimate, if you do not have one, go to the Department of Employee Trust Funds (ETF) WRS Retirement Estimate Request web page and submit your request.
Additional Resources
- For information on the Wisconsin Retirement System (WRS) review the WRS web page.
- Emails sent:
Questions
For questions on the WRS-Single Payroll Transition Program reach out to your benefits contact.
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.
Updated: 08/19/2024