Author: danielsk

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.  You can learn more information about the benefits available to your 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:

• Financial incentives will be reported as taxable wages and will be subject to applicable withholdings and taxes.  You will see withholdings for all incentives issued so far in the current calendar year reflected on your October 1st paycheck.  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 claim on your W4.
• A new earnings code has been created to help distinguish the health wellness taxable fringe from other taxable fringe amounts.  This taxable income pay line wil be processed with the code: XHM (Tax Fr-Health/Wellness)

Please contact Human Resources at x2390 or hr@uwgb.edu if you have any questions.

The Department of Employee Trust Funds (ETF) has just released the 2016 health insurance premium rates. One of the changes for 2016 is adjustments to the health plan names:

The Uniform Dental Benefits for 2016 will be offered by Delta Dental instead of through the health plans.  As a result, you will now have the option to select health insurance with or without uniform dental benefits.

2016 Monthly Health Insurance Premiums

Please see ETF’s news release for additional information regarding premiums.  We will continue to provide more information on the 2016 Open Enrollment Period and benefits changes as they become available.  Please contact Human Resources at x2390 or hr@uwgb.edu if you have any questions.

 

 

Wisconsin Retirement System Presentation for Employees Who Are Nearing Retirement

A representative of the Department of Employee Trust Funds will present retirement benefit information for members who anticipate retiring during the next five years.  Learn about topics that are important to the process and the decisions that need to be made when retiring in the WRS, including:

• Annuity Options/Lump Sum Option
• Beneficiary Designation Forms
• Retirement Benefit Calculations
• Core Trust Fund and Variable Trust Fund
• Purchasing Service
• Annual Annuity Adjustments
• Additional Contributions
• Return-to-Work Rules
• Health Insurance/Life Insurance

Date: Monday, September 14, 2015
Time: 6:30 p.m. to 8:30 p.m.
Location: Northeast Wisconsin Technical College
                 Room SC-128 (Executive Dining Room)
                2740 West Mason Street, Green Bay

No registration is required, visit etf.wi.gov for other learning opportunities.

 

 

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 22, 2015
8:00 a.m. to 4:30 p.m.
Wequiock 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.

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 benefits. Individuals can also ask questions at the end of these sessions.

Retirement Benefit Calculation Methods This webinar will explain the methods used for benefit calculations and the components of each method. Anyone who has requested or is planning to request an estimate will have a better understanding of how that amount was calculated. Individuals will have the opportunity to ask questions on this topic, at the end of the session.

• Wednesday Aug 05, 2015 12:00 – 12:30 p.m.
• Tuesday Aug 11, 2015 11:30 a.m. – 12:00 p.m.
• Wednesday Aug 19, 2015 6:00 – 6:30 p.m.
• Thursday Aug 27, 2015 11:00 – 11:30 a.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 Aug 06, 2015 12:00 – 12:30 p.m.
• Friday Aug 14, 2015 11:30 a.m. – 12:00 p.m.
• Tuesday Aug 18, 2015 12:30 – 1:00 p.m.

How a Divorce Affects Your WRS Benefits (retired members and alternate payees) This webinar explains how a divorce affects a retired member’s WRS benefits, including what happens when the WRS annuity is split by a qualified domestic relations order, benefit rights of alternate payees, and more.

• Wednesday Aug 12, 2015 12:00 – 12:30 p.m.
• Tuesday Aug 18, 2015 11:00 – 11:30 a.m.

How a Divorce Affects Your WRS Benefits (non-retired members and alternate payees) This webinar explains how a divorce affects a non-retired member’s WRS benefits, including what happens when the earnings and service are divided by a qualified domestic relations order, benefit rights of alternate payees, the importance of keeping beneficiary designations update and more.

• Thursday Aug 20, 2015 12:00 – 12:30 p.m.
• Wednesday Aug 26, 2015 6:00 – 6:30 p.m.

Beneficiary Designations Do you have a beneficiary designation on file with ETF and does it reflect how you’d want your WRS death benefits paid? This webinar reviews the importance of having a beneficiary designation on file and keeping it updated as life events occur. We’ll also review the process of how to correctly complete a designation form, what it means if you do not have one on file with ETF, and how to request a copy of your current form.

• Thursday Jul 23, 2015 11:00 – 11:30 a.m.

WRS Employer and Employee Contribution Rates This webinar will review how employer and employee contributions help keep the WRS fully funded. We will discuss how the contribution rates are calculated, why they change annually, where those dollars go and the contribution rate changes for 2015.

• Wednesday Jul 29, 2015 11:00 – 11:30 a.m.

Overview of the Wisconsin Retirement System This webinar will cover participation in the WRS, vesting requirements, how the WRS is funded and benefits available under the WRS.  Also included is a brief overview of the Core and Variable Trust Funds and how the WRS is structured.

• Tuesday Jul 28, 2015 11:30 a.m. – 12:00 p.m.

5 Basic Steps to Your Retirement Consider this webinar your quick reference guide to starting the retirement process within the next 12 months. We’ll review: choosing a termination date, how to request a retirement estimate – and how to read and understand it. We’ll also cover how to schedule a retirement appointment and – drum roll here — how to submit the retirement application

• Thursday Jul 23, 2015 12:30 – 1:00 p.m.

 

Register for a webinar

Please contact Human Resources at (920) 465-2390 or payrollandbenefits@uwgb.edu with any questions.