Planning for Retirement

MTEA Retirement Workshop

Each fall, the MTEA presents a comprehensive workshop for teachers who are considering retirement within the next few years. The workshop is especially valuable for those planning to retire at the end of the current school year.

Information is presented on several topics including:

Pension benefits under the Wisconsin Retirement System (WRS)

SERP - the negotiated supplemental retirement plan

Contractual benefits including health insurance, life insurance and severance pay.

Spouses are strongly encouraged to attend. See the calendar of events for details about this year's workshops.

Key Steps in Preparing for Retirement

The MTEA workshop provides a broad framework for you to start your specific retirement plans. We highly recommend two more steps to help you make your decisions about WRS annuity payments, the timing of your retirement, and other crucial questions.

1. Submit a WRS Benefit Information Request form. Copies of the form and instructions on completing it are distributed at the workshop. After you submit your form, WRS provides you with specific dollar amount estimates of your pension payment options. Note that it could take up to 12 weeks for you to receive this information.
2. After you have received your payment estimates from WRS, you and your spouse should make an appointment with Don Ernest of the MTEA staff. He will answer your questions about retiring, as well as the amount of benefits you will receive under the supplemental pension plan (SERP). At the end of the session, all of your retirement paperwork will be ready to file.