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The Wisconsin Retirement System (WRS) is a public pension plan that provides retirement benefits for employees of state and local government agencies in the state of Wisconsin. Established in 1982, the WRS is one of the largest public pension systems in the United States, with over 600,000 members and assets totaling over $100 billion.

The WRS is a defined benefit plan, which means that retirees receive a guaranteed monthly benefit based on their years of service and final average salary. Members contribute a portion of their salary to the plan, while their employers also make contributions on their behalf. These contributions are invested by the State of Wisconsin Investment Board (SWIB) to generate returns that fund the retirement benefits.

One of the key features of the WRS is its hybrid structure, which includes both a defined benefit plan and a separate 401(k) plan called the Variable Trust Fund. Members can choose to contribute to the Variable Trust Fund in addition to the defined benefit plan, allowing them to save for retirement in a tax-deferred account.

Another notable feature of the WRS is its strong funding status. The plan is consistently well-funded, with assets exceeding liabilities by a comfortable margin. This strong financial position provides security for current and future retirees, as it ensures that there will be sufficient funds available to pay benefits.

In addition to retirement benefits, the WRS also provides disability and death benefits for eligible members. These benefits are designed to provide financial security for members and their families in the event of a disabling injury or premature death.

Overall, the Wisconsin Retirement System is a robust and reliable retirement plan that offers valuable benefits to its members. With its strong funding status, flexible contribution options, and comprehensive benefits package, the WRS provides a secure foundation for public employees in Wisconsin to plan for their retirement years.