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, please correct the information with a black or blue ink pen and make a single strikethrough of the incorrect information. Write in the correct information to the right of the strikethrough.
3. The calculation type shown resulted in the highest possible payment. Both calculations were completed to determine your retirement benefit. Your estimate reflects the higher of the two calculations.

This is a formula example of your salary and service information that was used in your calculation. It is not necessary to update this section. Your most recent information, including earnings, will be reported by your employer.

This is a money purchase example, which means service and earnings were not used in your calculation. It is not necessary to update this section.

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.
6. 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.

Verify that your Named Survivor information is correct. 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.

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

7. Print the name of your financial institution and the city and state where it is located.
8. 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.
9. For either account type you choose (Checking or Savings), you must enter both the Transit 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 information. You will see a dollar figure here if you have enough post-tax dollars in your account (normally between $0-$2). If you purchased service or made additional contributions, this amount will be more. ETF will enter this information. 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.

Monthly Annuity Federal Tax Withholding

10. ETF will only withhold for Wisconsin taxes. Don’t forget to fill out your monthly annuity federal tax withholding IRS Form W-4P. 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.

​Monthly Annuity State Tax Withholding

11. Under 2, Mark No or Yes if you want state taxes withheld. If you mark No, stop, and do not enter information in 2a (Required) or (Optional) and 2b (Required). If you did fill out number 2, choose to fill out ONE of the options underneath it: 2a Required or 2b Required.

Choose One to fill out (12 or 14):

12. For 2a Required, mark Single or Married, then write the number of exemptions in the box. If you leave it blank, state is defaulted to zero (0).
13. Optional refers to if you want to hold above and beyond the tax table amount for state taxes.

OR

14. 2b Required means you can indicate a specific dollar amount that you want withheld for just the state. If you enter an amount in 2b Required (14), do not complete 2a Required (12) or Optional (13) for state taxes.

Lump Sum Payment

15. Mark No or Yes if you intend to make a direct rollover of your lump sum payment. You must complete and submit the Authorization for Direct Rollover (ET-7355) with your Retirement Benefit Estimates and Application (ET-4301) if you choose this option. The rollover form is included in the packet sent with your Retirement Benefit Estimates and Application (ET-4301) form. If you do not intend to rollover your payment, ETF is required to withhold 20% of the taxable portion of your payment for federal income tax. If you need to withhold more than 20%, submit an IRS form W-4P with your application.
    • The Authorization for Direct Rollover (ET-7355) form is included with Retirement Benefit Estimates and Application (ET-4301) if you are eligible for this option.
    • Contact ETF for the rollover form if you have lost the form or believe you did not receive the form in error. The Authorization for Direct Rollover (ET-7355) form is not available on our website.

16. Termination Date of All WRS Employment is your last day you are paid with a WRS employer. Please contact your employer to determine your correct termination date.
17. Benefit Effective Date is the day your benefit is effective for calculation purposes. This is not the day you will receive a payment. Check a box for either Earliest possible date or Specify a later date if you have chosen to enter a date.
18. Choose a relationship status, even if you are not choosing the Named Survivor annuity option.
19. If you choose the 2nd or 3rd option under relationship status, you must fill out the spouse/domestic partner info at the bottom (21).

20. You, as the applicant, must sign and fill out the application certification information completely. If you do not fill it out fully or correctly, it may be voided and returned.
21. You must have your Spouse/Domestic Partner date and sign the document ONLY if you choose a Life Annuity option, a lump-sum option, or both a monthly and 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