How your Pension Benefit Works

Find out more about how your pension benefit works. WRS has prepared several short videos to help members of the Wyoming Retirement System understand the details of their specific Benefits. We know many of these programs are presented to new employees during your onboarding. We also understand that starting a new job typically requires a lot of focus and can be stressful. These videos should answer the most common questions, but our educators are here to answer your questions. 

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Please use these links to help answer your questions as you watch our videos.

Understanding Deferred Compensation or 457(b)

This seminar covers the basics of your deferred compensation benefit or 457(b).  Most agencies that offer a WRS pension benefit, also offer the choice to participate in deferred compensation or 457(b).  Find out everything from what is a deferred compensation benefit, how to get extra contributions when your Agencies matches donation, to how to make the most out of your contributions through investment strategies.

This video covers the basics of Deferred Compensation or a 457(b) plan.  

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This seminar is sometimes called "Part 2"

457 Investment Seminar

This seminar is interactive and designed to educate investors about basic investment concepts and definitions, and can also help the more experienced plan participant brush up on important information. Presentations take about an hour. Allow extra time if you want to speak with the retirement educator afterward.

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Understanding Social Security

This seminar covers the basics of your social security benefits.  Most agencies that offer a WRS pension benefit, also offer the choice to participate in deferred compensation or 457(b) and the opportunity to participate in Social Security.  WRS understands there are a few agencies that do not participate in Social Security.  This video covers the basic information of social security.  

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This seminar is sometimes called "Part 3"

Retirement Strategies: Reaching Your Destination with Pre-Retirement Planning

This 90-minute seminar is for employees within 10 years of retirement. It discusses when you might be eligible for retirement versus when you can afford to retire. We review benefit options for your pension and distribution planning for your deferred compensation account. Deferred compensation information will also be provided regarding increased contribution limits after age 50 or within four years of qualifying for retirement. Allow extra time if you want to speak with a retirement educator afterward.

Living in Retirement: Managing Retirement Income

A two-hour workshop designed for retirees and employees no more than two years from retirement. Retirees may spend several decades in retirement, encountering numerous financial pitfalls along the way. Many retired WRS members wonder if their income will meet immediate and future retirement expenses. This workshop reviews the different stages of retirement and offers tools and information retirees can use to manage income sources and face the financial challenges of the future. Because space is limited, reservations are required.

Retirement Income Management Worksheets