Author: Jolene Truckenbrod

Floating Holiday Reminder

Reminder to all Classified Employees:

This year, Christmas Day falls on a Saturday, resulting in a floating holiday.  Please note that floating legal holiday may be used at any time during the year it is earned.  You must use this floating holiday by December 30, 2010 or it will be forfeited, as it cannot be carried over into 2011.  You may use this floating holiday prior to it being earned on December 25, 2010 and usage of this time will appear as a negative balance on your earnings statement until after the holiday occurs.

Use of floating holiday should be reported as “Legal Holiday” on your bi-weekly timesheet.

For more information regarding legal holidays, please visit our website.  If you have any questions, please contact Human Resources or Payroll.

WRS Contribution Rates

IMPORTANT NOTICE TO ALL EMPLOYEES PARTICIPATING IN THE WISCONSIN RETIREMENT SYSTEM

WRS Contribution Rates for 2011

Most UW System employees covered by the Wisconsin Retirement System (WRS) will be required to pay 0.2% (two tenths of one percent) of WRS-covered earnings to the WRS for 2011. Protective employees will have to pay a 0.8% (eight tenths of one percent) contribution rate, employees covered by the Building Trades bargaining agreement will have a 1% contribution rate (no change from 2010) and LTEs will have a 2.5% WRS contribution rate for 2011.

UW System will continue to pay the remainder of the WRS contribution rate for 2011.  The WRS contribution rate paid by UW System on behalf of most employees will be 11.4% of earnings (9.1% for LTEs, 10.6% for Building Trades employees and 20.5% for protective occupation employees).

Any required WRS contributions are automatically deducted from an employee’s paycheck.  Unclassified employees (paid monthly) will first have a WRS deduction on the January 3, 2011 paycheck and classified employees (paid bi-weekly) will have the first deduction on the January 13, 2011 paycheck.  The contribution amounts are relatively small.  For example, 0.2% of an annual salary of $40,000 amounts to $3.08 per biweekly paycheck and $6.67 per monthly paycheck.

Background

WRS contribution rates are approved by the Employee Trust Funds (ETF) Board.  These rates are based on current benefit levels and recommendations from the ETF Board’s independent consulting actuary.  The contribution rate increases for 2011 are mainly due to the large investment losses that occurred during the downturn of the stock market in 2008.

The 2009 – 2011 compensation plan and the collective bargaining agreements that are currently in force limit the amount an employer may contribute to the WRS on behalf of the employee.  The increase in the WRS contribution rates for 2011 exceeds how much UW System is allowed to contribute on the employee’s behalf.

For additional information, see http://www.uwsa.edu/hr/benefits/WRSratefaq.pdf.

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.

2011 TSA 403(b) Limits

The IRS announced that because inflation has been very low, there are no cost-of-living adjustments (COLA) to the dollar limitations for contributions to the Tax-Sheltered Annuity 403(b) Program in 2011. (The same limits as 2010.)

For 2011 University of Wisconsin employees may contribute a maximum of $16,500 to the Tax-Sheltered Annuity 403(b) Program. Employees age 50 and over can contribute an additional $5,500 for a total of $22,000. If you have 15 years or more of service with the UW, you may have an additional “catch-up” opportunity. Check with your human resources/benefits office to see if you are eligible. For more information see the web page on TSA limits at http://www.uwsa.edu/hr/benefits/retsav/limits.htm.

Employees currently enrolled in the program can easily change TSA contributions for 2011 by submitting a Salary Reduction Agreement (SRA) to their human resources/benefits office. The SRA is found on the web at http://www.uwsa.edu/hr/benefits/retsav/sraform.pdf.

If signing up for the TSA program for the first time, information can be found at http://www.uwsa.edu/hr/benefits/retsav/tsaenroll.htm.

In order to have these deduction amounts taken from each paycheck throughout 2011, please have your TSA Salary Reduction Agreement in your human resources/benefits office in early December. Clearly mark the form as calendar year 2011.

Please click on the following link to view the dollar amount maximums: http://www.uwgb.edu/hr/benefits/2011 Maximum Contributions TSA.pdf

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.

New Timesheets

To All Classified Employees and Limited Term Employees

The timesheets for classified staff and LTE’s have been updated in Excel to include features such as automatic calculation of hours worked, overtime, differential hours, etc.  For your convenience, holidays and fixed furlough days will automatically highlight on the timesheet.  Please note that once you complete your timesheet, you must still print, sign, and have your supervisor sign.

Effective with the November B pay period (11/7/10 – 11/20/10), please use the correct timesheet for your employee type as follows:

Please find step-by-step instructions for all timesheets by clicking on the second tab in the Excel worksheet titled “instructions” to assist you with completing the new version of the timesheet.  You can save a copy of your timesheet for your records; it is recommended that you save this to your M: Drive.

Please note that handwritten timesheets will no longer be accepted and will be returned.

If you have any questions or would like help with the new timesheets, please feel free to contact Payroll or Human Resources at x2390.

Insurance Premium Holiday

The following information affects employees who are enrolled in State Group Health Insurance and/or State Group Life Insurance.

Employees currently pay State Group Health (SGH) and State Group Life (SGL) Insurance premiums two months in advance of coverage. For example, the premiums deducted from July earnings pay for SGH and SGL coverage for the month of September. A decision was made to change the current SGH and SGL deduction schedule so premiums are paid only one month in advance of the coverage month. During the transition period, you will not have SGH and SGL premium deductions for one month – this is considered a premium holiday. Normal payroll deductions will resume after the one‐month premium holiday.

Classified employees (those paid bi‐weekly) will not have a SGH deduction from the November 18, 2010 paycheck and will not have a SGL deduction from the December 2, 2010 paycheck.

Unclassified employees (those paid monthly) will not have a SGH or SGL deduction from the December 1, 2010 paycheck.

For more information, please read the Frequently Asked Questions.

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.

Wisconsin Deferred Compensation Individual Sessions

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.   For more information about WDC’s Program highlights, see the Wisconsin Deferred Compensation Program Highlights by clicking on the following link:  http://www.uwgb.edu/hr/benefits/WDCP Program Highlights.pdf

When:   Wednesday, November 3rd, 8:00 am to 4:00pm

Where:   University Union Building, Wequiock Room #101A

To schedule a meeting with Scott, call toll-free at 877-457-9327, option 2, or call the WDC office in Madison at 608-241-6604.

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.

Retirement Investing from Beginning to End Webinar

T. Rowe Price, one of the investment companies in your UW TSA 403(b) Program, will be offering the webinar “Retirement Investing from Beginning to End” presented by Drew Kessler on November 4th and 5th.  Drew is a Retirement Specialist in T. Rowe Price Retirement Plan Services.  He is passionate about educating investors on retirement planning and setting them up for retirement success.

This 40-minute program is a comprehensive presentation that explains asset classes, reviews the concepts of risk and return, and helps employees make the most of their investment choices. The plan’s investment options are discussed and profiled using market capitalization, investment style, and geographic characteristics.  There will be time for you to ask questions and get your questions answered.

Times of the webinar are: 

Thursday, November 4 – 9:30 a.m., 11:30 a.m., 3:30 p.m. and 6:00 p.m.

Friday, November 5 – 10:00 a.m., noon and 2:00 p.m.

To participate in the webinar from your desktop, register at http://inter.viewcentral.com/reg/troweprice/uw

No desktop access???

If you are an employee that does not have desktop access or may simply prefer to view the webinar in a group setting, UW-Green Bay is offering the webinar at the University Union, Room Alumni A, on November 5 at 2:00 p.m.  You will not need to login; simply sit back and watch “Retirement Investing from Beginning to End” projected on a screen.

We ask, due to limited space- that if you are planning on attending this webinar that you simply RSVP to HR@uwgb.edu to ensure we have enough seating room for those interested.

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.

Statewide Employees Combined Campaign

The Statewide Employees Combined Campaign (SECC) annual workplace campaign begins Monday, October 12, 2010.  You can make a pledge anytime before November 30, 2010.

The campaign will be online again this year.  Making it easier for you to give and make a difference in your COMMUNITY and the WORLD.

To make your pledge, go to www.seccstatewide.wi.gov

The SECC Statewide is Wisconsin’s largest voluntary fundraising campaign.  Thanks to your help, the campaign raises money for more than 400 participating charities.

The CHOICE is yours…

As the only annual, cooperative, on-the-job campaign authorized to run at your workplace, SECC offers you many choices.

You decide:

• How you want to give – choose payroll contribution, cash or check.

• Where your dollars go – when you designate your gift to specific charities, only the charities you choose will receive money from you. Pick from more than 400 state, national and international charities.

To make your pledge:

  2. Click on the link for University employees
  3. All University employees are pre-populated.  To login click on “Login Now” in the upper right hand corner OR click on ‘No’ under “Is this your first time logging into this system?”
  4. Log in using the following information: Username:  Your first and last name as it is displayed on your earning statement (use all caps with no spaces between words). Example: JOHNDOE.  Password:  Last 4 digits of your social security number.
  5. Find out more information about the charities and decide who you would like to give to.
  6. Follow the instructions on the website to complete your pledge.

For additional information, to give by cash or check, or if you would prefer paper materials please ask your coordinator or call 608.256.1066 extension 12.

Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.