How to Fill Out Your Retirement Benefit Estimates and Application

1. Check to make sure the identifying information at the top of your form is correct.
2. If it is not correct, contact your current WRS employer to make corrections. If you are not currently working for a WRS employer, contact ETF to make corrections.
3. ETF calculates retirement benefits using two methods (Formula Benefit or Money Purchase Benefit), and participants will automatically be paid the highest amount. Your Benefit Calculation Type shows the highest for your benefit.

This is an example of your salary and service information that was used in your formula calculation. It is not necessary to update this section. Your most recent information, including earnings, will be reported by your employer. See the WRS Retirement Benefit Calculations page for more information.

4. Only check one box for your Monthly Retirement Benefit. If you choose more than one option, it will be voided and returned. If you are unsure which annuity payment option to choose, go to our Annuity Payment Options page for more information.
5. If you are taking your Employee Additional Contributions Benefit, check only one box under Employee Additional Contributions Benefit. You do not have to check a box; you may leave this part blank and apply for your Employee Additional Contributions Benefit at another time. If you see N/A listed, you do not have Employee Additional Contributions.
6. Verify that your Named Survivor information is correct. If it is not, contact ETF. This information should only be filled if you have chosen a Joint and Survivor Annuity Option. See our Who Can Be a Named Survivor? page for more information about named survivors, how to choose one, and the irrevocability of this decision.
7. In the margin to the right of Section 3, you will find the effective rate applied to your benefit payment options. If you only see the year with FIX PRO followed by a percentage, your account is not in the Variable Fund. If you have the year followed by VAR PRO and a percentage, your account is in the Variable Fund. See the Variable Fund page for more information about how this affects your benefit. See the Interest Crediting section of the  Calculating Your Retirement Benefits (ET-4107) brochure for more information about how interest rates are applied to your benefit calculation.
8. Annual minimum and maximum amounts are determined by state statute as modified by federal law. If your monthly annuity is less than the minimum, you are restricted to a one-time, lump-sum payment. If your monthly annuity is at or above the minimum amount, but less than the maximum amount, you may choose between a lump-sum payment or a monthly payment. If your monthly annuity is greater than the maximum amount, you are not eligible for a lump-sum payment and may only take a monthly payment. Additional Contributions will always have a lump-sum payment option.

Fill in this information only if you have chosen a Joint and Survivor Annuity Option (see 6 above). See our Who Can Be a Named Survivor? page for more information about named survivors, how to choose one, and the irrevocability of this decision.

You must fill out the Direct Deposit Authorization section to have your payment deposited directly into the account of your choosing.

9. Print the name of your financial institution and the city and state where it is located.
10. Print the name of the Account Owner. Please note this cannot be a trust.
11. Choose your direct deposit method. If you choose Checking Account, you will need to attach a voided check to the Retirement Benefit Estimates and Application.
12. For the account type you choose (Checking, Savings, or Money Market), you must enter both the Routing Number and the Account Number for your financial institution. Contact your financial institution for this information.

If you would like to use your financial brokerage firm, attach a copy of the firm’s direct deposit instructions and/or application to the Retirement Benefit Estimates and Application.

Investment in Contract (IIC) is the portion of your benefit payment that is nontaxable. You will see a dollar figure here if you have post-tax dollars in your account. This section is for your information only, you do not need to update this section.

We recommend using the Income Tax Withholding calculator to help you figure out this section and to print a withholding election to attach to your application form. ETF benefit specialists cannot give you tax advice; we recommend speaking with your tax advisor for questions regarding this section.

Federal Taxes

Don’t forget to fill out your monthly annuity federal tax withholding IRS Form W-4P. 

13. You must submit a valid IRS Form W-4P or your federal tax withholding will be defaulted to a marital status of single with no adjustments. Mark an X in the box under 1 to show that you have completed and attached a signed and dated IRS Form W-4P with your application.

​Wisconsin Taxes

ETF will only withhold for Wisconsin taxes. 

14. Mark No or Yes if you want state taxes withheld. If you mark No, stop, and do not enter any more information under 2.
15. If you choose Yes, decide how you want your taxes taken out. Required: Choose a. or b.
    • 15a. Print the Number of allowances in the space provided and mark an X for Marital status (Single; Married; or Married, but withhold at higher Single rate.)
      Optional: In the space provided, print a specific dollar amount with an additional amount you want withheld (this will be added to your allowances amount the state calculates).
    • 15b. Print a specific dollar amount that you want withheld in the space provided.

OR

Lump-Sum Payment

16. Mark Yes or No if you intend to make a direct rollover of your lump-sum payment. You must complete and submit the Authorization for Direct Rollover to a Qualified Retirement Plan (ET-7355) with your Retirement Benefit Estimates and Application (ET-4301) if you choose this option. If you do not intend to rollover your lump-sum payment, ETF is required to withhold 20% of the taxable portion of your payment for federal income tax. If you wish to withhold more than 20%, submit an IRS form W-4R with your application.

17. Termination Date of All WRS Employment: Enter your WRS termination date. You can verify this date with your most recent WRS employer. If you are no longer working for a WRS employer, the termination date has been provided.
18. Benefit Effective Date is the day your benefit is effective for calculation purposes. This is not the day you will receive a payment. Select the “Earliest possible date” checkbox to start your annuity immediately. If you “Specify a later date,” it must be the first of a month and cannot be more than 90 calendar days prior to the date ETF receives your application.

19. Choose a relationship status, even if you are not choosing a Joint and Survivor Annuity Option.
20. If you choose the 2nd or 3rd option under Relationship Status, you must enter the spouse/domestic partner information.

21. You, as the applicant, must sign and complete Section 10: Application Certification and Signature. If you do not fill it out fully or correctly, it may be voided and returned.
22. Your spouse or domestic partner must also sign this application if you have been in a marriage or domestic partnership for the full year immediately before the benefit effective date, and either of the following is true:
    • You have not selected a Joint and Survivor Annuity Option with your spouse or domestic partner as the named survivor, or
    • You are eligible for either a monthly annuity or a lump-sum payment and you select the lump-sum option.

Ensure that you have filled out all sections appropriately. We encourage you to make a copy of your application before submitting it to ETF. To submit your completed form, you can either fax, mail or drop off your form.

Mail:

Wisconsin Department of Employee Trust Funds
P.O. Box 7931
Madison, WI 53707-7931

Fax:

608-267-4549

Drop off form:

Wisconsin Department of Employee Trust Funds
Hill Farms State Office Building, 8th Floor
4822 Madison Yards Way
Madison, WI 53705-9100