Author: Jolene Truckenbrod

WRS Webinars in March

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. To avoid connectivity issues during webinars, we highly recommend using Google Chrome as your web browser.

Annuity Options

Choosing a WRS annuity option is one of the most important decisions you will face. This webinar will cover all of the WRS annuity options and help you understand them so that you can make an informed decision. We will also explain the important differences between a beneficiary and a named survivor.

  • Thu, Mar 10, 2022 6:00 pm – 6:30 pm
  • Wed, Mar 16, 2022 11:00 am – 11:30 am
  • Tue, Mar 22, 2022 1:00 pm – 1:30 pm

To register, go to: https://attendee.gotowebinar.com/rt/6609437492980238605

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 presentation, you will be able to:

  • Define WRS effective rates and annuity adjustments.
  • Explain how the Core Trust Fund and Variable Trust Fund effective rates are calculated.
  • Explain how the Core Trust Fund and Variable Trust Fund annuity adjustments are calculated.

Tue, Mar 8, 2022 11:00 am – 11:30 am
Thu, Mar 17, 2022 1:00 pm – 1:30 pm
Wed, Mar 30, 2022 6:00 pm – 6:30 pm

To register, go to: https://attendee.gotowebinar.com/rt/3882971913329974283

WRS Retirement Benefit Calculations

Have you requested a retirement estimate? Thinking about it? In this presentation we’ll discuss how we calculate your retirement benefit.

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

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

Wed, Mar 2, 2022 1:00 pm – 1:30 pm
Mon, Mar 14, 2022 6:00 pm – 6:30 pm
Tue, Mar 29, 2022 11:00 am – 11:30 am

To register, go to: https://attendee.gotowebinar.com/rt/8987489829652547083

Preparing for Your Retirement

Planning to retire in the next 1-10 years? Then this webinar is for you.

We’ll discuss:

  • The money you and your employer have put towards your retirement account.
  • How your retirement account grows through investments.
  • When you can retire.
  • Options for receiving your retirement benefit.
  • Rules you must follow if you return to work after retiring.
  • What happens to your account after you die.
  • Changes to your health and life insurance in retirement.

Learn in a way that fits your schedule (workday or evening). Attend this presentation in a live webinar!

To register, go to: https://attendee.gotowebinar.com/rt/2592441029449835020

Thu, Mar 10, 2022 11:00 am – 12:00 pm
Thu, Mar 24, 2022 6:00 pm – 7:00 pm

REGISTER HERE

Stressless Challenge

The Stressless Challenge is taking place from February 28 – March 27. Challenge yourself to find 5 minutes each day to focus on something that helps you feel good and earn incentive credit while you’re at it.

Stress can have surprising effects on overall health, from the way we think and feel to the way we eat and behave. There are lots of ways stress can affect you, but you can have a major effect on your stress, too. Taking as little as 5 minutes for yourself to unwind each day can make a difference. There are lots of ways to relieve stress—what works for you is what’s important. Try stretching, meditating, or doing something you enjoy.

Enjoy downtime every day

Did you know taking “me time” can help you become more mindful, which can help you sleep better, stay on top of stress and improve your heart health?  Be sure to register before March 7, and start reducing stress and restoring your well-being.

During the Stressless challenge, you’ll track your downtime for 21 of 28 days between February 28 and March 27. Take five minutes to relax for 21 days to enjoy better well-being! Completing the Stressless Challenge counts as completing your well-being activity, which is one step toward earning $150. (Complete your health assessment and a health check, too, to earn the full amount.)

REGISTER HERE

Well Wisconsin Radio Podcasts

Well Wisconsin Radio is back in 2022 and better than ever-podcasting! We are excited to share the first episode.  Listen in as host Morgan Meinen interviews Dr. Christine Whelan, clinical professor in the School of Human Ecology at the University of Wisconsin-Madison, about setting goals and finding purpose during times of uncertainty.

Check out the new Well Wisconsin Radio webpage. Episodes will be released monthly with a few bonus shows along the way. Last year’s episodes are still available.

You can be notified when new episodes are available by subscribing through Apple Podcasts, Spotify, Google Podcasts or the platform of your choice. While listening to an episode, you’ll hear a code that you can enter in the wellness portal. Entering codes from two episodes earns the well-being activity step towards your wellness incentive!

Random Acts of Kindness Week: February 13-19

Did you know this week is Random Acts of Kindness Week?  According to the Random Acts of Kindness Foundation, “There are scientifically proven benefits of being kind.  The positive effects of kindness are experienced in the brain of everyone who witnessed the act, improving their mood and making them significantly more likely to ‘pay it forward.’ This means one good deed in a crowded area can create a domino effect and improve the day for dozens of people!  This month celebrate Random Acts of Kindness Week and reap some of those benefits for your team.”

The kindness calendars provide many easy, practical and effective ideas for improving your wellness as well as those around you, and there is a new idea each day of the year!  We still have some calendars left, so just email wellness@uwgb.edu if you would like one sent to you.  If you prefer an online calendar, or just want to check it out, click here to view the calendar online.

“Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.”
~ Leo Buscaglia

America Saves Week

SAVE THE DATE! AMERICA SAVES WEEK IS FEBRUARY 21-25

We hope that you’re having a happy and healthy start to the New Year! The America Saves team has hit the ground running and has quite a bit to share with you.

UW System is promoting financial well-being with the America Saves Week campaign February 21-25 with webinars, credit checks, and other resources.

America Saves Week encourages individuals and families to set a goal and make a plan to achieve financial stability.

Check out the UW System America Saves Week Website to have an incredible America Saves Week!

During this week, UW System will feature live webinars, presented by:

UW Credit Union will also offer virtual Credit Checkups.

See you there!

Source: UW System Human Resources

Health Benefits Update: Free COVID-19 Test Kits

Most employees who are enrolled in the state group health insurance can now purchase over-the-counter COVID-19 diagnostic test kits at no cost. Coverage limits and exclusions apply. If you are enrolled in the Group Health Insurance Program and not yet on Medicare, you have coverage for eight (8) individual at-home COVID-19 tests every 30 days. Tests can be purchased from pharmacies, retail locations, or online. Only tests approved by the Federal Food and Drug Administration, or FDA, will be covered.  Please review this webpage for details: https://etf.wi.gov/news/over-counter-covid-19-test-coverage-information.

Here is general information about your health insurance benefits and COVID-19:  https://etf.wi.gov/your-health-benefits-and-covid-19 

Source: Department of Employee Trust Funds

Kindness Calendars Available

UW-Green Bay has received 100 full-size 2022 Kindness Calendars as part of UW-System’s wellness initiative!  Each day includes an activity/thought/suggestion to help improve your life.

  1. Please email wellness@uwgb.edu to request a calendar and we’ll send you one!
  2. Complete and check off at least 21 of the activities.
  3. Complete this survey (https://www.surveymonkey.com/r/ESA2022) to receive your code.
  4. Enter that code on the Rewards tab at https://webmdhealth.com/wellwisconsin/ under “My Reward” and “Employer Sponsored Activity” before October 14, 2022.  This would take care of the “Activity” step to get your $150 wellness incentive!

If you have any questions, please email wellness@uwgb.edu.

“Try to be a rainbow in someone’s cloud”
~ Maya Angelou

WRS Webinars in February

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. 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 presentation, you will be able to:

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

Mon, Feb 7, 2022 11:00 am – 11:30 am
Wed, Feb 16, 2022 6:00 pm – 6:30 pm
Thu, Feb 24, 2022 1:00 pm – 1:30 pm

To register, go to: https://attendee.gotowebinar.com/rt/6609437492980238605

Overview of the Wisconsin Retirement System

Are you new to the Wisconsin Retirement System? We’ll let you know what to expect.

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

  • Identify and explain the elements of the Wisconsin Retirement System.
  • Explain how the WRS pension works.
  • Identify benefits available through the WRS.
  • Find resources for more information.

Wed, Feb 2, 2022 1:00 pm – 1:30 pm
Tue, Feb 15, 2022 11:00 am – 11:30 am
Thu, Feb, 17, 2022 6:00 pm – 6:30 pm

To register, go to: https://attendee.gotowebinar.com/rt/5849661764047994636

Variable Fund

Does putting money in the Variable Fund make sense for you? You and your employer put money in to your WRS account to save for your future. The money in your account is then invested to increase your savings. By default, your money goes into the Core Fund, but you can choose to put half your money into the Variable Fund.

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

  • Define Variable Trust Fund and explain how it works.
  • Analyze how the Variable Fund can affect your retirement benefit.
  • Elect to join or cancel the Variable Fund.

Wed, Feb 9, 2022 6:00 pm – 6:30 pm
Wed, Feb 23, 2022 11:00 am – 11:30 am
Mon, Feb 28, 2022 1:00 pm – 1:30 pm

To register, go to: https://attendee.gotowebinar.com/rt/8634947918065141776

REGISTER HERE

Updated ICI Premiums Effective February 1, 2022

Income Continuation Insurance (ICI) premiums are reviewed annually, and any updates are effective February 1.  Premium changes for 2022 will be reflected on the February 24, 2022 paycheck.

If you are currently enrolled in the ICI program, visit the ICI Premium Notice web page for your personalized updated premium amount. Current enrollees were sent an email January 25 with a link to this web page.

Several factors determine your premium amount:

Your Earnings

  • For Faculty/Academic Staff/Limited Appointees: ICI premium* is based on your 2021 eligible earnings and the elimination period you elected when you enrolled.
  • For University Staff: ICI premium* is based on your 2021 eligible earnings and unused sick leave balance as of December 18, 2021.*If you were placed on an intermittent furlough, temporary work reduction, consecutive day furlough or were on an unpaid leave of absence during 2021, review ICI Premium Notice web page for information on how your premium may be affected.

Premium Rates

For 2022 the ICI premium rates will decrease by 50%.

Deferred Enrollment Period

The ICI annual premium update does not reflect any enrollment made during the ICI Deferred Enrollment period which began in January and ends March 1, 2022. Employees who are eligible to participate in the ICI Deferred Enrollment period received notification about their opportunity via an email sent January 15.

ICI Benefits

ICI provides replacement income if you are unable to work due to a short or long-term disability.

  • Standard ICI coverage provides you with 75% of your gross salary up to a maximum of $4,000 per month (75% of $64,000). Standard ICI coverage is on annual earnings up to $64,000.
  • Supplemental ICI coverage provides 75% of your gross salary to a maximum of $7,500 per month (75% of $120,000). Supplemental ICI coverage is on annual earnings up to $120,000.

More Information

For ICI plan information visit the UW System Employee Benefits ICI web page. After reviewing the web page, if you have additional questions, please email payrollandbenefits@uwgb.edu.

Source: UW System Human Resources

W-2 Forms Available Online

Electronic 2021 W-2 Forms (Wage and Tax Statements) are now available in the My UW portal. Paper copies are mailed to all employees except those who chose to receive an electronic only W-2 by January 13, 2022. Employees will receive a paper copy of the W-2 Form via U.S. mail postmarked by January 31, 2022.

Instructions to View/Print 2021 W-2 Form.

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:

  • Form 1095-C – This form includes information about the health insurance coverage offered to you by your University or through the UW System. A separate communication will be sent to employees who will receive this form.
  • The Fellowship Letter – This form shows amounts paid through the University payroll as a Fellowship/Scholarship, which are not considered to be wages by the IRS and are not subject to Social Security or Medicare withholding. The form is typically available in February.
  • The 1042-S Forms – This form includes a foreign person’s income from a U.S. source which is subject to tax withholding. The form is typically available in the My UW portal in March. Employees who have chosen electronic delivery through the Glacier System may have access to their forms earlier. Others will have their form mailed to their home address. Instructions to View/Print 1042-S Form and Fellowship Letter.

Resources
Visit Tax Statement Help for resources regarding the various tax forms.

Filing Taxes
Employees should use their W-2 Form, not their final 2021 earnings statement, to file taxes.

Some employees have had adjustments to their 2021 taxable earnings since the last 2021 payroll was paid and may have an additional earnings statement generated reflecting these adjustments. These adjustments will already be reflected on the W-2 Form that the employee receives.

The IRS will begin accepting and processing 2021 tax year returns on January 31, 2022. 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 contact payrollandbenefits@uwgb.edu.

Source: UW-Shared Services, Service Operations