WSURP Supplemental Retirement Plan
Assumed Income Calculation
“Assumed Income” is a theoretical amount of monthly income from a TIAA-CREF annuity that the retirement contributions would have generated if they had been allocated equally between TIAA (50%) and CREF Stock (50%). Professional actuaries, not University employees, perform this part of the calculation.
If applicable, DRS retirement plan income will also be included in the assumed income.
Supplemental Retirement Plan Benefit
Participants will receive a WSURP supplemental retirement plan benefit payment if the calculated Goal Income is greater than the amount of the calculated Assumed Income.
The payment is reduced by 0.5% per month for each month prior to age 65, unless the retirement was due to disability.
Upon notification of retirement, Human Resource Services will determine if the employee is eligible for the supplemental benefit. If eligible, HRS will notify the employee of the supplemental amount and survivor-ship options.