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HUMAN RESOURCES

Total Rewards

(Benefits, Leave & Compensation)

 

Retirement/Savings


Retiree Information

The following guides are used to begin the retirement process:

  1. Familiarize yourself with the Pre-Retirement Planning Guide.
  2. Attend a Pre-Retirement Seminar - Human Resources hosts a Pre-Retirement Seminar 1-2 times a year to aid employees in their decisions upon retirement. This is advertised to selected employees based on their age group.
  3. Employees interested in retiring from the University should contact Human Resources to schedule an appointment with a Benefits Specialist.

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University Retirement/Savings Plans

Upon hire, Wichita State University employees are required to participate in a mandatory retirement plan, but could also elect to participate in voluntary plans. 

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Mandatory Retirement Options

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, send a completed Immediate Participation Form to HR Benefits
    • 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 and return to HR 

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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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Voluntary Education Savings Option

The following option is available for University Support Staff, unclassified professionals, and faculty.

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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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Who to Contact

Wichita State University Human Resources has developed a centralized Total Rewards team, designed to efficiently and effectively serve our employees.

For general questions and concerns related to topics such as health insurance, retirement, tuition assistance, workers compensation, Fair Labor Standards (FLSA) and Family Medical Leave (FMLA), etc:

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Reviewed 5/15/2017 MT

Revised: 6/15/2017 SH

Revised: 10/13/2017 SP