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HUMAN RESOURCES

Retirement Financial Counseling:

Voluntary Retirement Forms:

 Retirement/Financial Counseling


Mandatory Retirement

All benefits-eligible employees of Wichita State University are required to participate in a mandatory retirement plan. The employee classification dictates the type of plan in which they are enrolled.

University Support Staff Employees:

  • University Support Staff Employees participate in Kansas Public Employees Retirement System (KPERS)
    • KPERS is a defined benefit plan (pension)
    • Benefit is determined based on years of service or earned credits, and salary while working at WSU or the State of Kansas
    • Immediate enrollment upon hire
    • 6% contribution requirement
    • Vested after 5 years 

Unclassified Professionals and Faculty

  • Unclassified Professionals and Faculty participate in Kansas Board of Regents (KBOR)
    • KBOR is a 403(b) defined contribution plan
    • A 1 year enrollment waiting period is required
      • Exception: prior State of Kansas KPERS or US Higher Education retirement contributions.
      • To apply to have your 1 year enrollment waiting period waived, the following documentation must be submitted to (and approved by) HR Total Rewards no later than 90 days after the date of appointment.
    • 5.5% Employee contribution requirement
    • 8.5% Employer contribution requirement
    • Vested immediately
    • Automatic enrollment, however, employees should complete the Investment Agreement - Mandatory Retirement Plan form to select an investment providor.  (If no providor is selected, TIAA will serve as the default investment providor). This form should be returned to totalrewards@wichita.edu.
    • Financial Counseling/Assistance is available!

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Voluntary Retirement Options

The following options are available for enrollment to University Support Staff, Unclassified Professionals, and Faculty.

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Retirement Financial Counseling

You can discuss your personal financial situation with an experienced financial consultant on a confidential basis.  They are available to discuss how to help you achieve your financial goals by investing in financial solutions such as mutual funds, brokerage, life insurance and annuities.

Mandatory Retirement Vendors

Voluntary Retirement Vendors

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Retirement Process 

The following guides are used to begin the retirement process:

  1. Familiarize yourself with the following documents:
  2. Human Resources hosts a Retirement Seminar annually to aid employees in planning for retirement. This is advertised to selected employees based on their age group.
  3. Employees interested in retiring from the University should contact the Total Rewards Team at totalrewards@wichita.edu to schedule an appointment.

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Contact

Total Rewards Team
totalrewards@wichita.edu
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Revised: 03/23/2018 DC

04/03/2018 SRAP