Benefits

T. Rowe Price Live & Recorded Webinars

T. Rowe Price Offers Live Webinars

T. Rowe Price, one of the investment companies in your UW TSA 403(b) Program, offers live and recorded webinars. Take advantage of these webinars!

Live Webinar  -  Another way to save: Roth contributions
For potential tax-free withdrawals in retirement, consider Roth contributions.  Attend this 30-minute program to understand how Roth contributions can give you tax-free withdrawals in retirement.  Find out about the advantages and disadvantages of Roth contributions, review a Roth contribution profile quiz, and learn about requirements for a qualified Roth distribution.  This is a live presentation over the web, and there will be time for you to ask questions and get your questions answered.

Monday, November 3, 2014, 10 a.m. and 2 p.m.
Thursday, November 6, 2014, 9:30 a.m. and 11:30 a.m.

Go to http://rpstrowepricereg32.fugent.com  to register for this webinar.  If you have any questions about registering for this webinar or about anything else, you can call T. Rowe Price at 1-800-922-9945. Representatives are available on business days from 6 a.m. to 9 p.m. central time.

Recorded Webinar  -  Investing Insights for Women
When preparing for retirement, women have a lot to consider. During this 40-minute recording, a panel of all-female retirement professionals discuss the realities that women face when saving and planning for retirement and what actions can be taken to help build a more secure financial future.  This presentation has been recorded for your convenience and will be available for viewing beginning the week of October 27. Go to http://troweprice.com/insightsforwomen to view this presentation.

Recorded Webinar  -  Retirement Investing From Beginning to End
This 20-minute program is a comprehensive presentation that explains asset classes, reviews the concepts of risk and return, and helps you make the most of your investment choices. The plan’s investment options will be discussed and profiled using market capitalization, investment style, and geographic characteristics.

Go to https://rpstroweprice.fugent.com/vpvm/?ID=F888E290-B093-40A7-9466-F1FF4AF44332 to view this presentation.

 

 

Wisconsin Deferred Compensation Individual Sessions

Scott Schewe, 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.  Please see the attachments for more information about WDC’s Program highlights and options.  Your can access the Wisconsin Deferred Compensation Program Quick Enrollment Card by clicking here.

When:   Monday; November 3, 2014; 8:00 am to 4:00 pm
Where:   University Union Building, Heritage Room

You can schedule an individual session with Scott Schewe by emailing him at  scott.schewe@greatwest.com

TIAA-CREF Individual Counseling Sessions

TIAA-CREF INDIVIDUAL COUNSELING SESSIONS – November 24-25, 2014

TIAA-CREF is offering individual and confidential counseling sessions where you can discuss your financial situation with a TIAA-CREF consultant.  A representative will be available to help you achieve your financial goals by investing in financial solutions.

Please see the attached flyer for more information about TIAA-CREF sessions at UWGB.   To schedule a consultation with representative Chad Stein, call 1-800-732-8353 Monday through Friday, 7:00am to 7:00pm (central time), or register at www.tiaa-cref.org/letstalk1.

Annual Open Enrollment Process & 2015 Contributions/Premiums

This year’s Annual Open Enrollment period is October 6 – 31, 2014 for participating plans.  Information pertaining to 2015 benefit changes and enrollment opportunities is available on your My UW System Portal by clicking on the Read more>> link under the Annual Benefit Enrollment Period section.

 

2015 Health Plan Changes:

Each health plan will now offer a High Deductible Health Plan (HDHP) option in addition to their current regular plan.  An HDHP provides coverage much like the regular plans except you must meet the annual deductible before services are covered.  Click here for an overview of the High Deductible Health Plan.  The annual deductible for the HDHP plans for 2015 will be $1,500 for single coverage and $3,000 for family coverage.

 

a Regular Plan HDHP
Deductible Single  $0 Family
$0
Single $1,500 Family $3,000
Annual Coinsurance Out-of-Pocket Limit* $500 $1,000 $1,000 $2,000
Total Employee Contribution $500 $1,000 $2,500 $5,000
*90%/10% to OOPL a a a a

2015 Health Insurance Premiums

Plan Name Regular Plan Employee Premium HDHP Plan Employee Premium
Anthem Blue Preferred- Northeast Network Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
Arise Health Plan Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
Dean Health Insurance- Prevea 360 Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
Humana Eastern Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
Network Health Plan Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
United Healthcare of WI Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
WEA Trust PPO-East Single -  $92.00
Family – $230.00
Single -  $32.00
Family – $81.00
Standard Plan Single -  $267.00
Family – $666.00
Single -  $207.00
Family – $517.00

 

Health Savings Account (HSA):

A Health Savings Account will be available for those who elect to enroll in a High Deductible Health Plan.  Click here for an overview of the HSA.

 

Annual Contribution Information for HSA
HDHP Enrollment Employer Contribution 2015 Limit (including ER contribution)
Single Plan $170.00 $3,350*
Family Plan $340.00 $6,650*

* If you are 55-65 years old, you may contribute an additional $1,000 “catch-up” per year to your HSA.

 

Flexible Spending Accounts (FSA):

TASC will be the new  Employee Reimbursement Account (ERA) vendor in 2015 and will offer three Flexible Spending Accounts in 2015:

  • Health Care FSA
  • Dependent Day Care FSA
  • Limited Purpose FSA*

*The Limited Purpose FSA is designed for those who are enrolled in the HDHP and HSA and are looking for an additional medical care FSA.  It allows you to pay for qualified vision, dental, and post-deductible medical expenses.

 

New FSA Changes for 2015:

  • The plan year will be January 1, 2015 to December 31, 2015.  There will be no grace period from January 1, 2016 to March 15, 2016.  Expenses must be incurred between January 1, 2015 and December 31, 2015.
  • If you have any monies left in your FSA on December 31, 2015, you will be able to carry over a maximum of $500 to the 2016 plan year.  Anything over $500 will be lost.
  • You will have until April 15, 2016 to file your 2015 claims.

 

Supplemental Dental/Vision Plans:

Epic Benefits+, Dental Wisconsin, and VSP Vision Insurance will all be offering open enrollment opportunities.  Please view details on each of the plans under the Annual Benefit Enrollment Period section on your portal.

 

2015 WRS Contributions:

Employee Category 2015 Employee Contribution 2015 Employer Contribution 2014 Employee Contribution 2014 Employer Contribution
General/Teacher 6.80% 6.80% 7.00% 7.00%
Executive 7.70% 7.70% 7.75% 7.75%
Sworn Police Officer 6.80% 9.50% 7.00% 10.10%

 

 

Employee Benefits & Wellness Fair will be held on Wednesday, October 8th from 11:30 a.m. to 2:30 p.m. in the Phoenix Rooms.  Click here for more details, including a list of vendors attending.

Annual Open Benefit Sessions:

This year we will once again be offering Benefits Open Lab Session where employees can stop by to ask benefits questions, learn more about 2015 benefit changes, and receive assistance with the E-benefits enrollment process.  All benefit sessions will be held in IS 1004.

October 9, 2:30-3:30
October 13, 9:00-10:00
October 16, 1:00-2:00
October 20, 3:00-4:00
October 22, 9:30-11:00
October 24, 10:30-12:00
October 28, 11:00-1:00
October 30, 1:30-3:30
October 31, 8:30-10:30

Annual Open Enrollment Period Begins on October 6

Mark your calendars! The Annual Benefit Open Enrollment period is October 6 – 31, 2014 for participating plans.

Annual Open Enrollment information will be available on the My UW System Portal, under the Annual Benefit Enrollment Period section.  A summary will be provided directly on the portal, however detailed benefit information about the open enrollment period will be provided by clicking on the Read More>> link at the bottom of the section as it becomes available.

*New for 2015* Each health plan will now offer a High Deductible Health Plan (HDHP) in addition to their current regular plan.  An HDHP provides coverage much like the regular plans except you must meet the annual deductible before services are covered.  A Health Savings Plan (HSA) will be available for those who elect to enroll in a HDHP plan.

Our office will be sending out additional information pertaining to open enrollment, including 2015 premium rates, by the end of next week.  You will also be receiving email communications from UW System HR throughout the open enrollment period.

 

Training Opportunities:
We will be holding an informational training session on benefit changes and updates for 2015 this Friday, September 26th from 10:30-11:30 as part of the 2014 All-Employee Training Series.   If you have not already registered for this session and would like to attend, please email payrollandbenefits@uwgb.edu.

The Employee Benefits & Wellness Fair will also provide you with an opportunity to learn more information about your benefits and options you have during the annual open enrollment period.  We will also be offering Benefits Open Lab sessions again this year where you can stop by to ask benefits questions, learn more about 2015 benefits changes, and receive assistance with the E-benefits enrollment process.  Click here for details on the fair and for dates of the Benefits Open Lab session.

And as always, if you have any questions regarding Open Enrollment or your benefits, please feel free to contact:

Kimberly Danielson
Classified & Unclassified CPS Benefits Specialist
Phone: 920-456-2196
Email: danielsk@uwgb.edu

Sue Miller
Unclassified Benefits Specialist
Phone: 920-465-2816
Email: millers@uwgb.edu

 

Don’t miss your once a year opportunity to enroll or make changes to your benefits!

 

Fidelity Investments Individual Counseling Sessions

Fidelity Investments is offering individual counseling sessions where you can confidentially discuss your financial situation with a Fidelity representative.  These sessions will give you the opportunity to:

  • Explore your plan benefits in more depth
  • Consolidate retirement account into the UW 403(b) retirement plan
  • Explore distribution options for pre-retirees
  • Tap into Fidelity’s experience and expertise
  • Make decisions that help you meet your goals

David Eichler, Fidelity Planning & Guidance Consultant will be coming to campus on:

Thursday, October 16, 2014
8:00 a.m. to 5:00 p.m.
Heritage Room, University Union

To schedule a confidential consultation with your Fidelity Investments representative, David Eichler, call 1-800-642-7131 or go to www.fidelity.com/atwork/reservations.

Health Plan Wellness Incentives are Taxable to Employees

The State of Wisconsin recently extended a number of financial incentives to employees through the Well Wisconsin employee wellness program. If you are covered under the State of Wisconsin Group Health Insurance program, you are eligible for a financial incentive to complete biometric testing and health risk assessment.  Depending on your health plan, you may also be eligible for financial reimbursements for wellness related expenses such as gym memberships, fitness classes, or the cost to participate in Community Support Agriculture (CSA) programs.  You can learn more information about the benefits available to you by accessing wellwisconsin.wi.gov.

Per guidance from the federal government and the Internal Revenue Service (IRS), these benefits are classified as taxable fringe benefits. This means that any financial incentive you receive from the program is taxable income for state and federal tax purposes.

What this means for you:

  • Beginning in 2014 financial incentives will be reported by your employer as a taxable wage and will be subject to applicable withholdings and taxes. You will see withholdings for all incentives issued in the current calendar year reflected on your December pay stub. This will include incentives issued to your eligible family members.
  • Withholding will include 7.65% for Social Security and Medicare and may include withholding for federal and state taxes, depending on the number of exemptions you claimed on your W-4.
  • Due to the year-end reporting, incentives normally paid during the months of November and December will be delayed until the next tax year.
  • Federal regulations requires the UW Service Center to receive financial data regarding incentives issued to employees and their covered family members. Your health information is protected by federal privacy regulations and is not shared with your employer.

Even with the federal government’s tax regulations, eligible employees are able to receive substantial financial rewards for using the wellness incentives offered by the State of Wisconsin and participating health plans. Benefits available through the Well Wisconsin program are also available to any dependent over the age of 18 who is covered by your State of Wisconsin insurance plan.

If you have any questions or concerns feel free to contact ETF at 1-877-533-5020 or our office at 465-2390.

WRS Benefit Presentations

Attention Employees covered under the Wisconsin Retirement System:

WRS Benefit Presentations, Webinars, Group Appointments, Benefit Fairs Set for September – December 2014

Representatives from ETF frequently give presentations at a variety of locations throughout Wisconsin. These staff appearances offer members an opportunity to learn about the Wisconsin Retirement System and related benefits. We encourage all members to attend an ETF presentation. Statewide benefit presentations, group appointments, webinars and benefit fairs offer you an opportunity to ask questions of knowledgeable ETF staff. For more information on benefit presentations, groups appointments, webinars and benefit/health fairs, read Employer Bulletin Vol. 31, No. 12.

ETF Learning Opportunity Update — August Webinars

Attention Employees covered under the Wisconsin Retirement System

The Department of Employee Trust Funds (ETF) is offering the following webinars during the month of August.  See ETF’s information below regarding their upcoming webinars.

 

ETF Banner

You are subscribed to Current News/Press Releases, Benefit Presentations, Employer Training and/or Schedule of Benefits Presentations for the Wisconsin Department of Employee Trust Funds (ETF). This information has recently been updated and is now available.

Webinars

Live Webinars Scheduled for August
ETF is offering a series of 30-minute, live, interactive webinars designed to increase your understanding of Wisconsin Retirement System (WRS) benefits. Individuals can also ask questions at the end of these sessions. Visit our webinar page to learn more about any of the following sessions. Here is what others have said about our webinars:

  • “My participation in the webinar was a first for me, and I just want to compliment you on how easy it was to connect, follow along, and provide questions or requests. Excellent job!”
  • “Thanks for having these valuable webinars. The professional but conversational style helped me to understand the presentation as easily as an “in office” meeting. Really appreciate that the presenter fully understands the subject. Wonderful job.”

How Divorce Can Affect Your WRS Benefits/QDRO (Qualified Domestic Relation Order)

This webinar covers not only how divorce can affect your WRS benefits, but also the importance of properly completing the QDRO required by ETF under state law. We will also review what happens once a valid Qualified Domestic Relations Order is accepted and processed by ETF.

  • Tuesday August 12, 11:30 a.m. – 12:00 p.m.
  • Thursday August 21, 1:00 p.m. – 1:30 p.m.

Additional Contributions
Find out how making additional contributions to your WRS account can potentially increase your retirement. This webinar also provides examples of how contributions grow over time with interest, how to pay additional contributions (payroll deduction or direct pay), etc.

  • Thursday August 7, 12:00 p.m. – 12:30 p.m.
  • Monday August 18, 6:00 p.m. – 6:30 p.m.
  • Wednesday August 27, 11:30 a.m. – 12:00 p.m.

Register for a webinar