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UWHC,

Benefits,

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Pay & Benefits,Retirement,Retirement Benefits for UWHC

Wisconsin Deferred Compensation (WDC)

Wisconsin Deferred Compensation (WDC) - Pay & Benefits, Retirement, Retirement Benefits for UWHC

Focus

Benefit Summary

The Wisconsin Deferred Compensation/457 plan is one of UWHC's supplemental retirement plans. To help you focus on your retirement and savings, UWHC Employees can chose to set aside additional money for retirement on a pre-tax or after-tax basis in the Wisconsin Deferred Compensation program. Employees choose how much to invest and where to invest it within the plan.

This program allows you to save for your retirement through before-tax and/or after-tax payroll contributions.

Through the regular (before-tax) Wisconsin Deferred Compensation option, you can shelter a portion of your earnings by deferring them on a pre-tax basis to purchase supplemental retirement benefits. The deferred amount, with accumulated interest and dividends, is not subject to federal or state income taxes until it is withdrawn (usually at retirement). Contributions are made through the payroll deduction process only. Your wage and tax statement will be reduced by the total amount of your WDC contributions during the calendar year. Your Wisconsin Retirement System contributions and the amount withheld for Social Security taxes are not affected.

As of July 2011 the Wisconsin Deferred Compensation Program also provides eligible employees with a Roth 457 option which allows you to invest a portion of your annual earnings on an after-tax basis to supplement your retirement income. With the Roth 457 option, you pay taxes on your contribution before it is invested in your account, so that you do not have to pay taxes when you make a withdrawal from your account.

Learn more information regarding both the pre-tax and after-tax Wisconsin Deferred Compensation options.

Benefit Eligibility

All regular full-time, part-time and temporary employees of UWHC are eligible to enroll in Wisconsin Deferred Compensation.

Beneficiary Designation

Beneficiary designations for Wisconsin Deferred Compensation may be made or updated by submitting a Wisconsin Deferred Compensation Beneficiary Designation form directly to WDC.

Enrollment

You can enroll in this program at any time. Deductions from payroll into your WDC account will begin as soon as administratively possible after your application is received at WDC. 

To Set Up an Account Anytime

Contact Information

Wisconsin Deferred Compensation:

Visit your local WDC office at:

This document is a brief summary of benefits. Details of the plan(s) may be found in the official plan documents and plan descriptions. If a conflict exists between this document and the official plan document, the official plan document shall rule.

Resources

Deferred Compensation FAQs

Wisconsin Department of Employee Trust Funds (ETF): Wisconsin Deferred Compensation