Author: Jolene Truckenbrod

ETF is offering a series of short, live, interactive webinars designed to increase your understanding of Wisconsin Retirement System benefits.  Individuals can also ask questions at the end of these sessions. To avoid connectivity issues during webinars, we highly recommend using Google Chrome as your web browser.

Annuity Options
When you get your retirement estimate, you’ll see that there are many options for receiving your retirement benefit. You can choose to receive the payment for your life or extend it beyond your life to your loved ones. The choice is yours. We’ll discuss how each option impacts the size of your payment and affects your loved ones.

By the end of this webinar, you will be able to:

1. Define and explain annuity, annuitant, beneficiary and named survivor.
2. Compare the different annuity options.
3. Find resources with more information.
4. Identify the next steps for you to choose an annuity option.

• Mon, Mar 20, 2023 11:00 am – 11:30 am
• Tue, Mar 28, 2023 6:00 pm – 6:30 pm

To register, go to: https://register.gotowebinar.com/rt/2603924337669260894

Preparing for Your Retirement
Planning to retire in the next 5 years? Then this webinar is for you. Learn about your WRS benefits and the retirement process.

By the end of this webinar, you will be able to:

1. Explain how the WRS retirement benefit works.
2. Recognize eligibility and prepare to apply for benefits.
3. Identify the different types of annuity options.
4. Prepare for health and life insurance changes in retirement.
5. Find additional resources.

• Wed, Mar 22, 2023 6:00 pm – 7:00 pm
• Wed, April 12, 2023 1:00 pm – 2:00 pm
• Wed, Apr 26, 2023 6:00 pm – 7:00 pm
• Thu, May 11, 2023 11:00 am – 12:00 pm
• Tue, May 23, 2023 6:00 pm – 7:00 pm
• Wed, Jun 7, 2023 1:00 pm – 2:00 pm
• Thu, Jun 22, 2023 6:00 pm – 7:00 pm

To register, go to: https://register.gotowebinar.com/rt/7817059707818435598

WRS Retirement Benefit Calculations
Have you requested a retirement estimate? Thinking about it? In this webinar we’ll discuss how we calculate your retirement benefit.

By the end of this webinar, you will be able to:

1. Explain the individual components of the two retirement benefit calculation methods.
2. Describe what affects your WRS retirement benefit for each type of calculation (money purchase and formula).

• Tue, Mar 28, 2023 1:00 pm – 1:30 pm

To register, go to: https://register.gotowebinar.com/rt/5832576461708627033

WRS Effective Rates and Annuity Adjustments
Each year you may see changes to the amount of your retirement payment. We’ll discuss why and how these changes happen.

By the end of this webinar, you will be able to:

1. Define WRS effective rate and annuity adjustment.
2. Explain how the Core Trust Fund and Variable Trust Fund effective rates are calculated.
3. Explain how the Core Trust Fund and Variable Trust Fund annuity adjustments are calculated.

• Thu, Mar 23, 2023 1:00 pm – 1:30 pm
• Wed, Mar 29, 2023 11:00 am – 11:30 am
• Tue, Apr 4, 2023 11:00 am – 11:30 am
• Thu, Apr 13, 2023 1:00 pm – 1:30 pm
• Tue, Apr 25, 2023 6:00 pm – 6:30 pm
• Tue, May 9, 2023 1:00 pm – 1:30 pm
• Wed, May 17, 2023 11:00 am – 11:30 am
• Thu, May 25, 2023 11:00 am – 11:30 am

To register, go to: https://register.gotowebinar.com/rt/6643854414797776735

How to Use ETF’s Online Retirement Calculator
Curious about how much money you’ll get during retirement? Our most used online tool, the retirement calculator, lets you see how much money you may get in the future.

By the end of this webinar, you will be able to:

1. Find information on your Statement of Benefits used for calculations.
2. Enter information into the WRS Retirement Benefits Calculator.
3. See an unofficial estimate of your WRS Retirement Benefits online.

• Wed, Apr 5, 2023, 1:00 pm – 1:30 pm
• Wed, Apr 19, 2023 6:00 pm – 6:30 pm
• Thu, Apr 27, 2023 11:00 am – 11:30 am

To register, go to: https://register.gotowebinar.com/rt/112734455684813919

Understanding Your Annual WRS Statement of Benefits
Your annual Statement of Benefits shows you the current state of your WRS account. Not sure about something on your statement? Watch this webinar with your statement in hand. We’ll walk you through each section.

By the end of this webinar, you will be able to:

1. Explain the purpose of the Statement of Benefits (ET-7365).
2. Analyze the sections of your Statement of Benefits.
3. Interpret your retirement benefit calculations.
4. Find resources for more information.

• Wed, Apr 19, 2023 11:00 am – 11:30 am
• Thu, Apr 27, 2023 6:00 pm – 6:30 pm
• Tue, May 2, 2023 1:00 pm – 1:30 pm
• Tue, May 9, 2023 6:00 pm – 6:30 pm

To register, go to: https://register.gotowebinar.com/rt/3033582696825666144

Additional Contributions
Looking to increase your WRS retirement? Learn how Additional Contributions can increase your WRS retirement benefit.

By the end of this webinar, you will be able to:

1. Define additional contributions.
2. Identify how additional contributions increase your retirement fund.
3. Arrange to make additional contributions to your WRS account(s).
4. Find and use ETF resources to calculate your additional contribution amount

• Thu, May 4, 2023, 6:00 pm – 6:30 pm
• Wed, May 17, 2023 1:00 pm – 1:30 pm
• Tue, May 30, 2023 11:00 am – 11:30 am

To register, go to: https://register.gotowebinar.com/rt/8581265372594571094

A Flexible Spending Account (FSA) allows you to be reimbursed for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money should be spent. Eligible expenses include:

• Medical (post-deductible only if you are also in the HDHP and HSA)
• Dental
• Vision
• Dependent Day Care

To be reimbursed from your 2022 Health Care FSA, you must have incurred eligible expenses by December 31, 2022. Expenses must be submitted and substantiated by March 31, 2023.

How to Submit Eligible Expenses for Reimbursement

The most efficient way to submit your eligible expenses for reimbursement is electronically by using the Optum mobile app or website. The links are below:

• Mobile App
• Website

Remember to include the required IRS supporting documentation with your submission. Optum will contact you directly for additional information, if necessary.

Carryover Reminders

Up to $570 of unused funds in a Health Care FSA will carry over from 2022 to 2023 on/around April 15, 2023. Unused funds greater than $570 will be forfeited. The IRS does not allow carryover for the Dependent Day Care FSA.

More Information

For questions about your claims, eligible expenses, or your payment card, contact Optum at (833) 881-8158.

For general information, review the UW System Employee Benefits FSA web page.

Source: UW System Human Resources

Summer prepay insurance premiums are deducted from spring paychecks to cover the cost of continuing insurance coverage through the summer months (contract break) and are in addition to regular biweekly insurance premium deductions.

Faculty and certain other employees will have summer prepay deductions for insurances if:

• Their academic (9 month) or annual (12 month) contract does not include work during one or more summer months; and
• They are expected to return to benefits eligible employment on or before the start of the fall semester; and
• They are eligible to maintain insurance coverage through the summer months.

Employees scheduled to have summer prepay deductions will receive monthly emails with estimated deduction amounts.

For information on which insurance plans have summer prepay deductions, the deduction timeline and how life events (employment or family status changes) could affect deductions, review the UW System Employee Benefits Summer Prepay Insurance Premiums web page.

Please contact us at hr@uwgb.edu if you have any questions.

Source: UW System Human Resources

Electronic 2022 W-2 Forms (Wage and Tax Statements) are now available for all active employees in your My UW portal.

View/print your W-2 Form and find tax resources on the Tax Statements tab on the Payroll Help page.

Paper copies will also be sent via U.S. mail, postmarked by January 31, 2023, to all employees who did not consent to electronic only distribution.

Access to electronic documents on the My UW portal ends when you terminate employment. Please remember to print any needed documents prior to departure.

Availability of Other Tax Forms
Some employees will receive additional tax forms from UW System. These additional forms are not applicable to all employees. Examples include the 1095-C Form, the Fellowship Letter and the 1042-S Form. For more information on these forms, visit the Tax Statements tab on the Payroll Help page.

Filing Taxes
Employees should use their W-2 Form, not their final 2022 earnings statement, to file taxes.

The IRS will begin accepting and processing 2022 tax year returns on January, 23, 2023. Employees may want to file their return as soon as all tax forms are received to minimize the chance of a fraudulent return being processed using their Social Security number, or Individual Taxpayer Identification number. More information is available on the IRS website.

If you have questions, please email hr@uwgb.edu.

Source: UW-Shared Services, Service Operations

For most employees, benefit deductions and contributions will change in 2023.

Health, Dental, Vision, and Accident Insurance
Premiums for most health insurance plans will increase slightly for 2023. Most dental insurance premiums will remain the same. Vision and Accident Insurance premiums will also remain the same. The change to the premiums will start on your December 15, 2022 paycheck.

Individual & Family Life Insurance and UW Employees, Inc. Life Insurance
If you will be in a new premium age category as of January 1, 2023, or if you changed your coverage level during the Annual Increase Option period for the Individual & Family Life Insurance, your new premium will start on your December 15, 2022 paycheck.

Accidental Death & Dismemberment (AD&D) Insurance
If you enrolled, changed coverage levels, or cancelled coverage during the Annual Benefits Enrollment period, your 2023 premium will start on your December 15, 2022 paycheck.

Wisconsin Retirement System (WRS) Contributions
The WRS employee and employer contributions for 2023 will increase slightly. 2023 contributions will start on your January 12, 2023 paycheck.

UW 403(b) Supplemental Retirement Program (SRP) and Wisconsin Deferred Compensation (WDC) 457 Program
2023 contributions will start on your January 12, 2023 paycheck.

Health Insurance Opt-Out Incentive
If you do not need health insurance through the UW System and elected the health insurance opt-out incentive, it will start on your January 26, 2023 paycheck.

Flexible Spending Account (FSA), Health Savings Account (HSA)
If you enrolled in an FSA or HSA for 2023, your first contribution will be on your January 26, 2023 paycheck.

University Insurance Association (UIA) Life Insurance
If you are enrolled in the UIA Life Insurance Plan, the annual premium will be deducted from your January 26, 2023 paycheck.

Income Continuation Insurance (ICI)
The 2023 ICI premium rate changes will be effective on your February 23, 2023 paycheck. Additional information will be communicated in January.

State Group Life Insurance
The 2023 State Group Life Insurance premium will increase for most age groups effective April 1, 2023. Spouse & Dependent coverage premiums will remain the same. Additional information will be communicated in March.

For additional information, review the Benefit Premiums web page.

Source: UW System Human Resources

If you enrolled or made changes to your benefits during the Annual Benefits Enrollment (ABE) period, you may receive new benefits ID cards.

Review your ID cards for accuracy. If you discover errors or if by early January you do not receive all the ID cards you expected to receive, contact the plan directly. Your UWGB benefits contact is not able to request ID cards on your behalf.

See below for ID card information specific to each benefit plan.

STATE GROUP HEALTH INSURANCE

If you enrolled or made changes to your dependents, health plan design, or health insurance carrier, you should receive a new ID card by early January. Present your new ID card at appointments after January 1, 2023.

You may be able to obtain an ID card online through your health insurance plan carrier’s website. The website address for your health insurance plan carrier can be found in the Health Benefits Decision Guide (last page).

PHARMACY BENEFITS

If you are newly enrolled in health insurance for 2023 or added/removed dependents, you will receive an ID card from Navitus, the pharmacy benefits manager. You should receive your ID card by early January. To access your ID card online, go to www.navitus.com.

DENTAL INSURANCE

If you are newly enrolled in Uniform Dental, Preventive Dental or Supplemental Dental (Select or Select Plus), you should receive an ID card from Delta Dental by early January.

If you are currently enrolled, you will only receive a new ID card if your level of coverage changes January 1 (for example: from single to family) even if you enrolled in a different health plan for 2023.

You may obtain an ID card online at www.deltadentalwi.com/state-of-wi.

VISION INSURANCE

If you are newly enrolled in vision insurance for 2023 you will receive an ID card from the vision insurance administrator, DeltaVision/EyeMed by early January. If you are currently enrolled in 2022, you will not receive a new ID card.

You may obtain an ID card online at www.deltadentalwi.com/state-of-wi.

Note: You may not need to show your ID card at your vision appointment as most vision providers will be able to verify that you have coverage through DeltaVision/EyeMed.

ACCIDENT INSURANCE

Securian, the Accident Insurance plan administrator, does not issue ID cards. Review the Accident Insurance web page for information about how to file claims. Most claims must be filed within a specific timeframe shortly following an accident.

FLEXIBLE SPENDING ACCOUNTS AND HEALTH SAVINGS ACCOUNTS

If you are enrolled in a Health Care Flexible Spending Account (FSA) or a Health Savings Account (HSA) for 2022 and already have a payment card from Optum or ConnectYourCare you may continue to use your current payment card until the expiration date. Shortly before the expiration date Optum will automatically issue you a new payment card.

If you are newly enrolled in a Health Care FSA or an HSA for 2023, you should receive a payment card from Optum by early January.

If you have money in multiple accounts (FSA, HSA), the same payment card should be used for all accounts.

For additional information about each benefit plan, review the UW System Employee Benefits website.

Questions? Please email hr@uwgb.edu or call 920-465-2390.

Source: UW System Human Resources

Eligible University Staff have an annual opportunity to bank and/or request a cash payout of their unused vacation. All requests to bank or receive payout must be received by December 31, 2022.

To be eligible, employees must meet the years of service requirement outlined in the vacation policies below. Employees cannot bank or receive payout for Personal and Legal holidays.

Instructions for viewing your leave balances and banking are available in the Banked Leave Tipsheet. Vacation and carryover balance hours eligible to be banked may be viewed beginning December 1.

How Much Can You Bank or Get Paid Out?

Review UW System Administrative Policy 1210 (formerly BN 1) Vacation, Paid Leave Banks, and Vacation Cash Payouts, section 6.E.I.

There is no limit to the total number of hours (balance) that can be retained in your Banked Leave account. Once vacation is banked the hours do not expire.

When Can Banked Leave Be Used?

With your supervisor’s approval, banked leave hours may be used whenever you are allowed to use paid leave.

What If You Terminate Employment?

Unused banked leave hours will be paid to you at your wage rate at termination.

Resource

• UW System Administrative Policy 1210 (formerly BN 1) Vacation, Paid Leave Banks, and Vacation Cash Payouts

Questions? Please email hr@uwgb.edu or call 920-465-2390.

Source: UW System Human Resources

An FSA (Flexible Spending Account) allows you to be reimbursed for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money should be spent. Eligible expenses include:

• Medical (post-deductible only if you are also in the HDHP and HSA)
• Dental
• Vision
• Dependent Day Care

To be reimbursed from your 2022 Health Care Flexible Spending Account (FSA), you must incur eligible expenses by December 31, 2022. Then, submit and substantiate your expenses by March 31, 2023.

How to Pay for Eligible Expenses:

For the Healthcare FSA, you can use your payment card from the FSA administrator (Optum) at the point of sale or service. Otherwise, pay for your eligible expenses with a personal credit card, a debit card, cash, or check and submit your eligible expenses for reimbursement through Optum’s mobile app or website.

How to Submit Eligible Expenses for Reimbursement

The most efficient way to submit your eligible expenses for reimbursement is electronically by using the Optum mobile app or website. The links are below.

• Mobile App
• Website

Remember to include the required IRS supporting documentation with your submission. Optum will contact you directly for additional information. Failure to provide documentation when requested may require repayment through payroll on an after-tax basis. Substantiate your claims by December 31, 2022, to avoid the repayment process.*

* The repayment process applies to the Healthcare FSAs only; it does not apply to the Dependent Day Care FSA.

Carryover Reminders

Up to $570 of unused funds in a Health Care FSA will carry over from 2022 to 2023 on/around April 15, 2023. Unused funds greater than $570 will be forfeited. The IRS does not allow carryover for the Dependent Day Care FSA.

For questions about your claims, eligible expenses, or your payment card, contact Optum at (833) 881-8158.

For general information, review the UW System Employee Benefits FSA web page or email hr@uwgb.edu.

Source: UW System Human Resources

Active UW employees can receive W-2 and 1095-C forms via electronic-only distribution. Electronic forms are available earlier than mailed paper forms and delivery is environmentally friendly and secure.

Complete consent forms by January 12, 2023, using the instructions in the Electronic Only Consent tipsheet. Consent can also be withdrawn at any time using the instructions in the tipsheet.

The W-2 form includes compensation and tax withholding for the previous calendar year. The 1095-C form documents that an employee who worked full-time for all or some months in the previous year was offered health insurance.

Employees who do not complete consent forms, who have withdrawn consent or have terminated prior to January 12, 2023 will be receive W-2 and 1095-C via U.S. Mail at the address on file.

Note: The consent option in this article does not apply to the 1042-S form. 1042-S forms are available electronically in the Glacier Online Tax Compliance System for employees who choose electronic delivery through that system.

If you have questions, contact serviceoperations@uwss.wisconsin.edu.

Source: UW-Shared Services