Purchase WRS Service with TSA Money
UW TSA Inve$tor (Fall 2003)
You can now use your TSA 403(b) account to purchase Wisconsin Retirement System (WRS) creditable service through a plan-to-plan transfer. The transaction does not result in a tax liability. Federal pension law changes effective in 2002 included this provision and the 2003 Wisconsin state budget bill, signed into law in July, authorized the WRS to accept such payments. The TSA Program had already adopted enabling language.
You may use your TSA account to purchase any WRS creditable service that you are otherwise eligible to buy, including forfeited service (service that you previously forfeited by taking a separation benefit) and qualifying service (your six-month qualifying period if you began WRS employment as a non-teacher prior to 1973).
At this time, the WRS does not accept transfers or roll-ins of TSA money for purposes other than purchase of service.
You may use a combination of after-tax and tax-deferred funds, including funds in a 457 deferred compensation account, to purchase your service. You must file your application before you terminate employment. The first step in the process is to contact the Department of Employee Trust Funds (877-533-5020) to request an estimate. Be prepared to give your employer’s name and the dates you were employed. For more information, send an email to benefitsweb@uwsa.edu.