UW Tax Sheltered Annuity 403(b) Program Update

The Internal Revenue Service has announced the 2012 contribution maximums for the Tax Sheltered Annuity Program.

For 2012 University of Wisconsin employees may contribute a maximum of $17,000 to the Tax-Sheltered Annuity 403(b) Program. Employees age 50 and over can contribute an additional $5,500 for a total of $22,500. If you have 15 years or more of service with the UW, you may have an additional “catch-up” opportunity.  For more information, please see the announcement: pdf document on the 2012 limits, and the web page on TSA limits at http://www.uwsa.edu/hr/benefits/retsav/limits.htm.

Please contact Human Resources at hr@uwgb.edu or ext. 2390 if you have any questions.

TIAA CREF is offering individual and confidential counseling sessions where you can discuss your financial situation with a TIAA CREF consultant.  They will be able available to help you achieve your financial goals by investing in financial solutions and help simplify your retirement planning. 

When:            Monday, November 21, 2011, 9:45am – 5:00pm

                       Tuesday, November 22, 2011, 8:15am – 12:45pm

Where:           University Union Building, Wequiock Room, #101A

Don’t miss this opportunity — schedule a confidential consultation with your TIAA CREF representative, Chad Stein.   To schedule a time, call 1-866-843-5640  Monday through Friday, 9:00am to 8:00pm (EST).  

Please contact Human Resources at hr@uwgb.edu or ext. 2390 with questions.

Proposed 2011-13 Compensation Plan  

If approved, the new compensation plan would be effective January 1, 2012.  Below are links to a summary of the proposed changes and the draft 2011-13 Compensation Plan:

http://oser.state.wi.us/docview.asp?docid=7275

ftp://doaftp04.doa.state.wi.us/doadocs/2011-2013CompPlanJCOER.pdf

If you have questions regarding the new plan, please send your email to compensationplan@uwsa.edu and UW System will be fielding your questions at this time. UW System will be developing an FAQ document that will supplement a similar document developed by OSER and we will provide that information to you once it is available.

Please contact Human Resources at hr@uwgb.edu or ext. 2390 with questions.

Scott Schewe, a representative from WDC, will be available to meet individually with employees regarding their current WDC enrollment and for those interested in learning more about the program and planning for retirement by investing before tax dollars.

When:   Thursday, November 3^rd, 8:00 am to 4:30pm

Where:   University Union Building, Wequiock Room #101A (lower level)

To schedule a meeting with Scott, call the WDC Office in Madison at 1-608-241-6604.

Please contact Human Resources at ext. 2390 if or via e-mail at hr@uwgb.edu you have any questions.