Monthly Contribution Templates must be uploaded and payment received by WRS no later than the 12th of the month for the previous month’s payroll. WRS cannot process retirees for a given month until their final contributions are paid, and new employees cannot be added for a given month until the previous month’s contributions are in. The deadline on the 12th helps prevent delays to these and other WRS functions and business processes.
Interest will be assessed at a rate of 7.75% on contributions submitted later than the payment deadline set in statute (W.S. 9-3-413 for most plans). The deadline is intended to ensure the fiscal soundness of the System and fairness among participating employers and members. WRS will consider legitimate extenuating circumstances and deferral of late payment interest charges on a case-by-case basis.
