Department of Retirement Systems
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WSPRS Plan 2: Summary of Benefits

Retirement Eligibility

WSPRS Plan 2 provides for a retirement benefit:

  • At any age, with 25 or more years of service credit.
  • At age 55 or older, with no minimum required service credit.
How Service Credit is Accumulated
 You receive one service credit month for each calendar month in which you receive salary for 70 or more hours. See "How is my service counted?"
Service Credit for Military Time
 You may be eligible to purchase service credit for time spent in the military if you were working in a WSPRS position at the time you entered the military. See Military Service.
Average Final Salary (AFS)
 The monthly average of your salary for the highest consecutive 60 service credit months prior to your retirement, termination or death.
Benefit Formula
 Service credit months ÷ 12 x 2 percent x AFS = monthly benefit. See "What is my service retirement benefit?"
Benefit Limitation
Your retirement benefit may not exceed 75 percent of your AFS.
Contribution Rates
 You are required to contribute a percentage of your monthly salary. This rate is set by law and may be changed by legislative action.
Disability Benefits
If the WSP determines that you are entitled to disability benefits, you may be able to acquire service credit for the period of disability. See "Periods of Disability."
Death in Service Survivor Benefit
 If you die before accruing 10 years of service credit, your beneficiary receives your accumulated contributions. If you die with 10 or more years of service credit, your surviving spouse or the guardian of your minor children can choose between a lump sum payment or a continuing monthly benefit. If you die as a result of an injury or occupational disease sustained in the course of employment, your designated beneficiary may be eligible to be paid a $150,000 death benefit in addition to normal survivor benefits. See "What benefits do my survivors receive?"
Cost of Living Adjustment
 On July 1 of every year following your first full year of retirement, your monthly benefit will be adjusted based on the Consumer Price Index up to a maximum of three percent. See "Can my benefits increase after I retire?"
Retiree Health Care Options
If you qualify for Public Employees Benefits Board (PEBB) health insurance coverage, you must elect PEBB coverage within 60 days of separation from employment. See "Am I eligible for health insurance coverage after I retire?"