Category: Fiscal Wellness

Fiscal wellness is the ability to understand our financial situation. This involves being able to control and maintain a balance of income and expenditures. It is important to make financial decisions that allow one to save, invest and plan for the future.

July Well Wisconsin Challenge – Summer Bucket List

Fill your bucket this summer by doing things that feel good to you! Our Summer Bucket List Challenge has some great ideas or create your own. Set a goal and then get to fillin’ your bucket!

Track your fun for 30 days by checking 10 days off your bucket list. Click here for the form. Email your completed form to wellness@uwgb.edu.  

Treat yo’ self!

Self-care

  • Stargaze—contemplate just how amazing life is
  • Use PTO to leave work early to do your own thing!
  • Enjoy a book or magazine at your favorite cafe
  • Tap in to your artistic side with sidewalk chalk
  • Take a nap or read in the warm shade
  • Say “no” to something that feels stressful
  • Say “yes!” to something fun and indulgent
  • Relax in the bath, pool, hot tub, lake—you choose
  • Sit outside, close your eyes, and just listen

I like to move it, move it!

Active living

  • Dance to music that moves you
  • Beat the heat—get up for an early morning walk/run
  • Start your day with yoga in the sunshine
  • Walk to do an errand or get a summer treat
  • Try a NEW activity—geocaching, paddle boarding, etc.
  • Grab a friend and go for a bike ride
  • Work in your garden or yard
  • Hand wash your car
  • Go for a hike and have a picnic

Get ‘er done!

Goals, productivity, professional development

  • Get rid of 25 items from your house
  • Organize a space—don’t forget before and after photos
  • Set one professional or personal goal for the summer
  • Don’t check work email when you are on vacation
  • Make an emergency/natural disaster plan with family
  • Aim for a no-waste week—reduce, reuse, recycle
  • Listen to a professional/personal development podcast
  • Read an article that will help you toward a goal
  • Plan a fall/winter vacation

Sunday—fun day!

Weekend ideas with friends and family

  • Go camping
  • Visit a museum—pose like an exhibit (pictures!)
  • Catch a summer blockbuster to escape the heat
  • Have fun with animals—zoo, aquarium, or your pet
  • Go to an outdoor concert, festival, fair or sports game
  • Try an outdoor ropes course or ziplining
  • Go to brunch or have a picnic in the park
  • Visit a pool, river, lake, or coast for a water adventure
  • Tour your local town or a new city you want to see

For the love of full bellies!

Food and drink

  • Make a healthy, cool summer treat—share the recipe!
  • Organize a progressive dinner with some neighbors
  • Enjoy a treat from an ice-cream truck
  • Make real homemade lemonade (no powdered stuff!)
  • Eat your favorite summer produce—savor every bite
  • Have a BBQ and snap a photo of the grill master
  • Try a cold summer soup recipe
  • Make fruit popsicles
  • Pick up fruits and veggies from a farmers’ market

You do you!

Create your own list

  • ______________
  • ______________
  • ______________
  • ______________
  • ______________

Wisconsin Strong Women: Unique Challenges to Achieving Financial Security

Industry Experts Discuss Challenges Women Face in Achieving Financial Security

Women face unique challenges to achieving financial wellness and security throughout their lives. The COVID-19 pandemic has worsened the problem. Find out why and more important, explore solutions on how to overcome the challenges at a special virtual discussion with industry experts, presented by the Wisconsin Department of Employee Trust Funds.

Thursday, June 24
12 to 1 p.m.

Kathy Blumenfeld, Secretary of the Wisconsin Department of Financial Institutions, is set to moderate Wisconsin Strong Women: Unique Challenges to Achieving Financial Security. Panelists are:

Topics include women’s pay inequality, caregiving, access to Social Security benefits, outliving retirement income, and other factors that impact a financially secure retirement. In addition, panelists will recommend actions that women can take to navigate and lessen the challenges at every stage of their financial journey.

The event is free of charge. Register now!

Learn more about the presenters and event.

WRS Webinars Offered in June

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. 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.”

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.

Thu, June 3, 2021 11:00 a.m. -11:30 a.m.
Wed, June 9, 2021 6:00 p.m. – 6:30 p.m.
Thu, June 24, 2021 1:00 p.m. – 1:30 p.m.

To register, go to: https://attendee.gotowebinar.com/rt/1522473274882266639

Buying Service

You may increase your retirement benefit by buying service if you have worked for:

  • Other government employers.
  • The WRS and taken a separation benefit.

We’ll discuss:

  • The types of service you can buy.
  • How and when you can buy service.
  • An online tool that lets you see how much buying service can increase your retirement benefit.

Fri, June 4, 2021 1:00 p.m. – 1:30 p.m.
Tue, June 8, 2021 11:00 a.m. – 11:30 a.m.
Mon, June 14, 2021 6:00 p.m. – 6:30 p.m.

To register, go to: https://attendee.gotowebinar.com/rt/8479752946403782927

Newly Retired? What to Expect

When you first retire you may experience several changes. We’ll help prepare you for some of these changes by discussing:

  • When and how to change your retirement benefit payment option.
  • When you’ll receive tax information.
  • What mailings you will receive.
  • Why your monthly payment may change.
  • Rules you must follow if you return to work for a position under the WRS.

Thu, June 10, 2021 1:00 p.m. – 1:30 p.m.
Wed, June 16, 2021 11:00 a.m. – 11:30 a.m.
Wed, June 30, 2021 6:00 p.m. – 6:30 p.m.

To register, go to: https://attendee.gotowebinar.com/rt/9085128655494175247

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.

Mon, June 7, 2021 11:00 a.m. – 11:30 a.m.
Thu, June 24, 2021 6:00 p.m. – 6:30 p.m.
Wed, June 30, 2021 1:00 p.m. – 1:30 p.m.

To register, go to: https://attendee.gotowebinar.com/rt/8788898232738211855

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. Attend this presentation in a live webinar!

Fri, June 11, 2021 1:00 p.m. – 3:00 p.m.
Mon, Jun 21, 2021 6:30 p.m. – 8:30 p.m.
Wed, Jul 14, 2021 10:00 a.m. – 12:00 p.m.
Wed, Jul 28, 2021 6:30 p.m. – 8:30 p.m.

To register, go to: https://attendee.gotowebinar.com/rt/2273159340156240144

Click here to register for a Webinar!

June Well Wisconsin Challenge: Financial Wellness, Wisconsin Strong

One of our main stressors in life is finances and being stressed about money impacts our health and mental well-being. That, coupled with the financial strains caused by the pandemic, has caused a lot of hardship and worry for employees across the nation. This month we encourage you to focus on your financial health.

Start by taking the online Wisconsin Strong Financial Fitness Challenge, offered by the Wisconsin Department of Employee Trust Funds. After you complete a 5-minute Financial Fitness Checkup self-assessment, you’ll receive a code to enter in the Employer Sponsored Activity section of your rewards tab in your Well Wisconsin* portal. You will also gain free access to a personalized playlist of courses on topics such as debt management, budgeting, investments, estate planning, and retirement planning.

The Financial Fitness Challenge is a part of ETF’s recently debuted Wisconsin Strong: Your Financial Security™, a free financial wellness program available to Wisconsin Retirement System members and their families. Wisconsin Strong is designed to empower members to maximize their WRS benefits, save for the future, and achieve financial wellness at any age.

Check out all of the Wisconsin Strong financial wellness education, resources, and tools at etf.wi.gov/wi-strong. Follow along at #WIStrongSecurity.

*Well Wisconsin rewards are only available to subscribers and spouses enrolled in the State of Wisconsin Group Health Insurance Program, except for members who are enrolled in UHC’s Medicare Advantage plan.

TIAA virtual meetings available in June and July

Meet with a financial consultant at University of Wisconsin System in a Virtual Counseling Session

No matter where you are in life—just getting started or planning for retirement—a session with a TIAA Financial Consultant can help you create a plan for your goals. And, it’s at no additional cost as a part of your retirement plan. You’ll get answers to these questions and more:

  • Am I invested in the right mix of investments to help meet my goals?
  • Am I saving enough to create the retirement income I need?
  • How do I take income from my retirement account once I stop working?

TIAA will be available these dates and times for one-on-one sessions:

  • Tuesday, June 8, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Wednesday, June 9, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Thursday, June 17, 2021 8:00 a.m. – 4:30 p.m. Virtual Meeting
  • Thursday, June 24, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Friday, June 25, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Thursday, July 8, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Tuesday, July 13, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Wednesday, July 21, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Thursday, July 22, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting
  • Wednesday, July 28, 2021 9:00 a.m. – 4:00 p.m. Virtual Meeting

RSVP today, as space is limited. Register for sessions at www.TIAA.org/schedulenow or by calling 800-732-8353, weekdays, 8 a.m. to 8 p.m. (ET). We look forward to working with you.

Click here to register for a virtual consultation with TIAA.

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

The TIAA group of companies does not offer tax advice. See your tax advisor regarding your particular situation.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations. 

Wisconsin Strong Webinars in May

Webinar: College Savings Made Simple

The annual cost of a four-year public college is about $22,000. That cost more than doubles for private college. This free webinar, presented by the Wisconsin Department of Financial Institutions, will help you learn how to start saving now for future college expenses using Wisconsin’s College Savings Program.

The Edvest College Savings Plan, one of Wisconsin’s 529 plans, offers many advantages to you, such as tax-deductible savings and fees that are among the lowest in the country. With automatic payroll deduction, you can get a hassle-free opportunity to save for your children’s or grandchildren’s higher education costs.

Sessions:

  • May 18 at 11:00 a.m.
  • May 19 at 12:00 p.m.

Register for Session

Edvest National 529 Day (May 29) special offer: When you open a new Edvest account with a $50 contribution between May 24, 2021 and May 31, 2021 (and sign up for recurring contributions including payroll direct deposit of $25 or more per month for a minimum of 6 months), Edvest will match $50! You’ll receive the promo code during the webinar.

Webinar: Understanding Beneficiaries and Probate

Prepare for the unexpected. Help the ones you love be less overwhelmed and provide them peace of mind by having your financial affairs in order.

At this free webinar, presented by Summit Credit Union, you’ll find out what you need to know and the right questions to ask. Uncover the mystery of probate.

Register for session:

Wisconsin Strong
DFI, Edvest, and Summit Credit Union are partners in the Wisconsin Strong: Your Financial Security™ program, which is managed by the Department of Employee Trust Funds. Wisconsin Strong is designed to empower you to maximize your Wisconsin Retirement System benefits, save for the future, and achieve financial wellness at any age. Visit etf.wi.gov/wi-strong and follow along at #WIStrongSecurity.

Public Service Loan Forgiveness Program

The Public Service Loan Forgiveness program can help employees pay off their student loans.  This program forgives the remaining balance on qualified federal loans after borrowers have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, such as the University of Wisconsin System.  Further information can be found at the Department of Education website at https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service.

There are a number of federal income-based repayment plans. Whether the Public Service Loan Forgiveness program is right for an individual can vary.  A student loan borrower needs to work for a public service qualifying employer to qualify the loan forgiveness benefit.

The Department of Education recommends that if you would like to qualify for this program now or in the future, you would complete the Employment Certification form (https://studentaid.gov/sites/default/files/public-service-application-for-forgiveness.pdf) as soon as possible. You would complete sections 1 and 2 of this form, as well as the Public Service Loan Forgiveness cover sheet (https://uwservice.wisconsin.edu/docs/publications/voe-uws-pslf-request.pdf), and fax or mail (don’t email due to the confidential information on the form) the forms to UW-Shared Services (fax number and address is listed on the cover sheet).

TIAA Virtual Meetings Available in May, June, and July

Meet with a financial consultant at the University of Wisconsin System in a Virtual Counseling Session

No matter where you are in life – just getting started or planning for retirement – a session with a TIAA Financial Consultant can help you create a plan for your goals.  And, it’s at no additional cost as part of your retirement plan. You’ll get answers to these questions and more:

  • Am I invested in the right mix of investments to meet my goals?
  • Am I saving enough to create the retirement income I need?
    • How do I take income from my retirement account once I stop working?

TIAA will be available these dates and times for a virtual one-on-one session.

  • Tuesday, May 11 at 9:00 a.m. – 4:00 p.m.
  • Wednesday, May 12 at 9:00 a.m. – 4:00 p.m.
  • Thursday, May 20 at 9:00 a.m. – 4:00 p.m.
  • Tuesday, May 25 at 9:00 a.m. – 4:00 p.m.
  • Wednesday, May 26 at 9:00 a.m. – 4:00 p.m.
  • Wednesday, June 2 at 9:00 a.m. – 4:00 p.m.
  • Thursday, June 17 at 8:00 a.m. – 4:30 p.m.
  • Thursday, July 8 at 9:00 a.m. – 4:00 p.m.
  • Wednesday, July 28 at 9:00 a.m. – 4:00 p.m.

RSVP today, as space is limited.  Register for sessions at www.TIAA.org/schedulenow or by calling 800-732-8353, weekdays, 8 am to 8 pm (ET). We look forward to working with you.

Click here to register for a virtual consultation with TIAA

This material is for informational or educational purposes only and does not constitute fiduciary investment advice under ERISA, a securities recommendation under all securities laws, or an insurance product recommendation under state insurance laws or regulations. This material does not take into account any specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on the investor’s own objectives and circumstances.

Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not bank deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

The TIAA group of companies does not offer tax advice. See your tax advisor regarding your particular situation.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, distributes securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each is solely responsible for its own financial condition and contractual obligations. 

WRS Webinars Offered in May

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. Visit our webinar page to learn more about any of the following sessions.

5 Basic Steps to Your Retirement

Thinking about retiring in the next 12 months? We’ll walk you through the process.

You’ll learn how to:

  • Choose a termination date.
  • Request a retirement estimate.
  • Read the retirement estimate.
  • Schedule a retirement appointment.
  • Submit a retirement application.

Wed, May 5, 2021 11:00 a.m. – 11:30 a.m.
Fri, May 14, 2021 11:30 a.m. – 12:00 p.m.
Thu, May 20, 2021 12:00 p.m. – 12:30 p.m.
Thu, May 27, 2021 6:00 p.m. – 6:30 p.m.

To register, go to: 

https://attendee.gotowebinar.com/rt/4030756165475866127

Additional Contributions

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

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

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

Mon, May 3, 2021 12:00 p.m. – 12:30 p.m.
Tue, May 11, 2021 12:30 p.m. – 1:00 p.m.
Mon, May 17, 2021 6:00 p.m. – 6:30 p.m.
Thu, May 27, 2021 1:00 p.m. – 1:30 p.m.

To register, go to: 

https://attendee.gotowebinar.com/rt/8087148129945512461

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 presentation, you will be able to:

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

Fri, May 7, 2021 12:00 p.m. – 12:30 p.m.
Wed, May 12, 2021 12:30 p.m. – 1:00 p.m.

To register, go to:

 https://attendee.gotowebinar.com/rt/2789840744542886411

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 rate and annuity adjustment.
  • 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.

Thu, May 6, 2021 11:30 a.m. – 12:00 p.m.
Mon, May 10, 2021 12:00 p.m. – 12:30 p.m.
Wed, May 12, 2021 6:00 p.m. – 6:30 p.m.
Thu, May 27, 2021 11:00 a.m. – 11:30 a.m.

To register, go to: 

https://attendee.gotowebinar.com/rt/6452814252490226444

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. Attend this presentation in a live webinar!

Thu, May 13, 2021 10:00 a.m. – 12:00 p.m.
Wed, May 26, 2021 6:30 p.m. – 8:30 p.m.
Fri, June 11, 2021 1:00 p.m. – 3:00 p.m.
Mon, Jun 21, 2021 6:30 p.m. – 8:30 p.m.
Wed, Jul 14, 2021 10:00 a.m. – 12:00 p.m.
Wed, Jul 28, 2021 6:30 p.m. – 8:30 p.m.

To register, go to: 

https://attendee.gotowebinar.com/rt/2273159340156240144

Register for a Webinar