Category: Payroll & Benefits

Employees covered by the Wisconsin Retirement System (WRS) can now view their WRS Statement of Benefits as of January 1, 2023, in the My UW portal. To view your statement, launch the Benefit Information tile and click on the WRS Statements of Benefits tab.

Your WRS Statement of Benefits includes 2022 earnings and service, retirement benefit projections (if vested), separation benefit, death benefit, and employee and employer contributions.

Resources

• Introductory letter
• Explanation of Annual Statement of Benefits
• UW System WRS Statement of Benefits web page
• Webinar: Understanding Your Annual WRS Statement of Benefits (registration required)

Beneficiary Reminder 

It is recommended that you review the beneficiaries listed on your WRS Statement of Benefits and if a beneficiary is not listed complete a Beneficiary Designation Form.

Death benefits are paid according to the most recent beneficiary designation form on file with the Department of Employee Trust Funds (ETF) prior to your death. Your beneficiary does not automatically change due to a life event, such as divorce or marriage.

To add, change, or remove beneficiaries, complete one of the following forms and mail the completed form to ETF at the address listed on the form.

• Beneficiary Designation Form (ET-2320): Allows you to name primary and secondary beneficiaries.
• Beneficiary Designation (alternate) Form (ET-2321): Allows you to name primary and secondary beneficiaries and/or successors to those beneficiaries.

If you do not have a beneficiary designation on file, death benefits will be paid according to the statutory standard sequence in effect on the date of death.

Questions

If you have questions about your statement after reviewing available resources, please reach out to the UW-System Benefits Counseling team at benefits@uwss.wisconsin.edu or 888-298-0141.

Source: UW System Human Resources

State Group Life Insurance premium rates will increase for most age categories effective April 1, 2023. There is no change to the premium rates for Spouse and Dependent coverage.

View Your Updated Premium
Employees who are currently enrolled in the State Group Life Insurance program can view their updated 2023 premium in their Personalized State Group Life Insurance Premium Notice. Any change in premium will be reflected on the March 23, 2023, paycheck.

Annual Premium Update
In addition to the premium rate increase, your State Group Life Insurance premium may also change effective April 1, 2023, if either or both your age category and salary have changed since April 1, 2022. Coverage levels are based on:

• Your highest calendar year of eligible earnings,
• Your age as of April 1 each year, and
• Your elected coverage level(s).

The UW System contributes towards the cost of your State Group Life Basic and Supplemental Insurance coverage. You pay the full cost of Additional, Spouse and Dependent coverage.

Questions? Please review the 2023 State Group Life Insurance premiums or email hr@uwgb.edu. For general plan information, review the UW System Employee Benefits State Group Life insurance web page.

Source: UW System Human Resources

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

In a continued effort to better support UW-Green Bay faculty and staff, align with the institution’s mission and strategic initiatives, and streamline processes, the Office of Human Resources and Workforce Diversity will be transitioning benefits administration functions to UW System on April 10, 2023. UW System has been leading this move to a centralized, shared-services benefits support model over the past couple of years. It follows the centralization of payroll support, which UW-Green Bay transitioned in November, 2021.

UW-Green Bay will join a number of other UW institutions who are already utilizing the UW System Benefits Counseling Team, including UW-Oshkosh, UW-Parkside, UW-Whitewater, UW-Platteville, UW-Stevens Point, and UW-Superior. The UW System Benefits Counseling team is comprised of benefits specialists who have deep and broad subject matter expertise on the benefits offered by the UW System.

This benefits support change aligns with recent efforts undertaken by the UW-Green Bay Office of Human Resources and Workforce Diversity to transition away from primarily transactional activities, and towards becoming a true strategic partner with employees, managers and leadership at UW-Green Bay. Centralization of payroll/benefits and the upcoming implementation of Workday will allow our office to become more future-focused, holistically supporting employees and managers throughout the career lifecycle and contributing more fully in the areas of business analytics, employee engagement, and organizational strategy.

What does the change in benefits support mean for employees?

• General Questions and Support: Employees needing benefit-related information or counseling will work directly with a team of benefit counselors at UW System. Employees will experience little to no change in service as this team is trained in the full array of benefit options offered to UW System employees and can offer individualized support while considering each employee’s unique situation.
• Retirement Counseling: Employees considering retirement, or those who are ready to finalize the details of their retirement, will be able to meet virtually with the benefit counselors to receive guidance through the retirement process.
• Benefit Orientations: Newly hired employees, or those transitioning into benefits-eligible positions, will be contacted directly by the benefit counseling team and offered information on enrollment deadlines and benefit packages available. They will be encouraged to attend a virtual bi-weekly benefits orientation session. One-on-one appointments are also available.
• Open Enrollment: The benefits counseling team will lead open enrollment activity at our university with virtual informational sessions while still offering the ability to meet with employees to answer questions and review options.

How do employees get benefits support when they need it?

The Benefits Counseling Team uses a ticketing system to track and respond to all inquiries. Employees can contact the team by either sending an e-mail to benefits@uwss.wisconsin.edu or leaving a message at (888) 298-0141. This contact information will also be housed on our UW-Green Bay benefits website. Employees will begin utilizing this contact starting April 10, 2023.

What will be the role of the UW-Green Bay Office of Human Resources for benefits functions going forward?

• FMLA & ADA: The UW-Green Bay HR team will remain responsible for administration of all Family and Medical Leave Programs and accommodation requests.  Employees can contact hr@uwgb.edu if they need assistance or have questions about FMLA and/or ADA.
• Employee Well-being: The UW-Green Bay HR team will continue to work with the Wellness Committee to lead all well-being related activities and programs for our employees.
• UW-Green Bay HR Systems & Rewards Team: The team will maintain responsibility for all activity within HRS and related systems, play a key role in the Workday transition, and serve as a liaison to UW System Payroll & Benefits teams. In addition, this team will provide additional strategic data analysis, forecasting for decision-making, and digital transformation of HR-related business processes.

While our office will move away from providing benefits services, we are excited about the opportunities this transition will provide to better serve as a strategic partner with the campus community. If you aren’t sure who to reach out to, or have any questions or concerns about this transition, please feel free to contact us at hr@uwgb.edu or (920) 465-2390.

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