Payroll & Benefits

UW Tax-Sheltered Annuity (TSA) 403(b) Provider Online Workshops

Fidelity, one of the UW TSA 403(b) providers, will be presenting two online workshops in July — Invest Confidently for Your Future on July 24 and Be in the Financial Front Seat on July 25. See below for workshop details. Both workshops are approximately one hour, and there will be time for questions at the end of each. All you need to do is log in from your desktop and listen to the audio portion from your phone. Don’t miss this opportunity!

Invest Confidently for Your Future
Tuesday, July 24, 11:00 a.m. Central Time*
The skills you’ll gain from this workshop will help you to:

  • Define your savings goals
  • Build an investment plan to help you optimize your savings
  • Understand the importance of continually managing your plan

Register here.

Be in the Financial Front Seat — making financial health a priority for women
Wednesday, July 25, 11:00 a.m. Central Time*
Presented at this workshop is:

  • Why it’s particularly important for women to make financial wellness a priority
  • What it means to be in the financial front seat, including:
    • Knowing what you own, and what you owe
    • Having a clear idea of your financial goals
    • The importance of an annual financial review

Register here.

*Please note that online registration provides the workshop times in Eastern Time. The times listed above are Central Time.

Source: UW System Human Resources

2019 WRS Contribution Rates Released

At its June 21, 2018 meeting, the Employee Trust Funds Board approved Wisconsin Retirement System (WRS) contribution rates for 2019.  There are many complex factors that affect WRS contribution rates, such as investment performance, legislative adjustments to benefit levels, demographics, etc.  It is important to remember, WRS investment experience is smoothed over a course of five years to prevent large swings in WRS contribution rates. Generally, WRS rates are decreasing in 2019 primarily due to positive investment returns.

Your contribution rate is determined by your WRS employment category. Most UW employees are covered by the General/Teacher WRS category. High level administrators (chancellors, president, vice presidents, provosts) are covered by the Executive category.  Employees whose main duties are related to law enforcement or the protection of the public (police officers, fire fighters) are covered by the Protective category.

2019 WRS

The 2019 rates will  apply to all paychecks paid in 2019, beginning on the January 2, 2019 paycheck for Faculty, Academic Staff and Limited  paid monthly, and January 3, 2019 for University Staff paid bi-weekly.  As a reminder, WRS contributions are taken on a pre-tax basis for state and federal purposes.

For more information, please see ETF’s website.

Please contact Payroll & Benefits at (920) 465-2390 or payrollandbenefits@uwgb.edu with any questions.

 

 

 

 

 

College Savings Made Simple

Saving for your child’s post-high school education may seem daunting, but with Edvest, Wisconsin’s 529 College Savings Plan, you can start making small contributions today that will benefit them in the future. Anyone – parents, grandparents, extended family members and friends – can set up an account for anyone else. An account can also be used to save for one’s own continuing education.

Edvest makes saving easy by offering low fees, a low minimum contribution of $15 per pay period, and tax deductions for Wisconsin residents (limitations apply). You may have contributions to Edvest allocated from your paycheck. Payroll deduction is not available.

The best part is the benefit to your child(ren), who can use these funds at universities, colleges, professional schools, technical colleges, and graduate programs across the country and even at some institutions abroad. Funds can cover tuition, books, room and board, computers, tablets, and many other expenses.

For more information and to open an account, visit the Edvest website.

Source: UW Service Center

Health Choice on campus July 18 & 19

On July 18th from 9am-1pm and July 19th from 10am-2pm our Health Choice Representative, Samuel McIntyre, will be on campus to review your individual long-term care benefits and options. If you are interested in learning more about Long-term Care and wish to discuss your individual benefits and options, please contact Samuel directly at (920) 540-2340 or via email at sjmcintyre@healthchoice.com.

The Department of Employee Trust Funds has approved an optional Long-Term Care insurance benefit for all State of Wisconsin, University of Wisconsin and UW Hospital and Clinics employees and annuitants. This benefit option not only covers care in a nursing home or assisted living facility but more importantly it was designed to do everything possible to keep you in your own home and give you choices.

Congress has put the seal of approval on long-term care insurance by providing tax incentives to purchase long-term care insurance policies and making it more difficult to qualify for Medicaid long-term care benefits.  It’s legislation like this that makes it hard to ignore long-term care, an issue that has moved center stage as a national crisis. Many people, in fact, say that long-term care is the real health care crisis in this country.

Long Term Care Insurance covers services that are typically not covered by health insurance but are vital for the patient. For example, assistance with activities of daily living (e.g. walking, eating, bathing). This plan provides financial protection from the rising costs of long-term care. Coverage covers voluntary caregivers, home health care, assisted living, nursing homes, and adult day care.

Eligibility

Long Term Care Insurance is available to employees, your spouse or domestic partner, your parents, and your spouse’s or domestic partner’s parents. To be eligible you must be a Wisconsin Resident.

Enrollment

You may apply for coverage at any time during your employment. There is no open enrollment period because each application is subject to medical underwriting.  Some illnesses or pre-existing conditions may make you ineligible for coverage. However, once your policy is issued, coverage will not be limited or excluded for any pre-existing conditions or illnesses.

When:

  • Wednesday, July 18th at 9:00 a.m. to 1:00 p.m.
  • Thursday, July 19th at 10:00 a.m. to 2:00 p.m.HealthChoice

Where: University Union, Wequiock Room (101A)

What: Employees can meet with Samuel McIntyre, Health Choice Representative to discuss Long-Term Care

More information about Long-Term Care online: https://www.wisconsin.edu/ohrwd/benefits/other-benefits/

Please contact Samuel at (920) 540-2340 or via email at sjmcintyre@healthchoice.com with any questions.

 

 

Student employee hours limit decreases to 20 hours June 24th through July 7th

Just a reminder that the student employee hours limit will decrease to 20 hours per week for two weeks, June 24th to July 7th.  The hours limit will increase back to 40 hours per week starting July 8th.  The hours limit is in place to make sure we are in compliance with the Patient Protection and Affordable Care Act (ACA).

Please review the 2018 Student Bi-Weekly Payroll Schedule at http://www.uwgb.edu/UWGBCMS/media/hr/files/StudentBiWeeklyPayrollSchedule2018.pdf

If you have any questions, please contact us at payrollandbenefits@uwgb.edu or ext. 2390.

Student Acknowledgement Form No Longer Required as of July 1st

In an effort to increase efficiency, new student employees will no longer need to complete a Student Employment Acknowledgement Form as of July 1, 2018; however, student employees are still responsible to monitor their hours worked each week to ensure compliance with the hours limitations.  The hours limitations have not changed and are shown on the Student Employee Payroll Schedule, and the Student Employment Operational Policy is still in effect.

Please contact Human Resources at hr@uwgb.edu or ext. 2390 if you have any questions.

Saving 1% More

It is recommended Americans save 15% of their annual income for retirement – are you?

If you are, great!

If you’re not, 15% probably seems a little intimidating, but don’t worry, there are easy ways you can begin increasing how much you save for retirement without breaking the bank. Consider increasing your UW Tax-Sheltered Annuity (TSA) 403(b) contribution by 1%. With this increase you may hardly notice a change in your take-home pay, BUT it could translate to tens of thousands of dollars to use in retirement (depending on future market values).

Your Wisconsin Retirement System (WRS) benefit is a great tool in saving for retirement, but a UW TSA account can also help.

If you already have a UW TSA account and want to see how you are doing in saving for retirement, sign up for an individual counseling session with your provider. You can do so by visiting Counseling Sessions under the Education section of the UW TSA website.

If you do not have an account, there is no time like the present to sign up! Visit the UW Tax-Sheltered Annuity (TSA) 403(b) website for information on how to enroll.

Source: UW System Human Resources

Tax Reform Update

Taxpayers may be impacted by the Tax Cuts and Jobs Act of 2018 based on the new withholding tax tables that the University of Wisconsin implemented on payroll payments dated on or after February 1, 2018. Therefore, the IRS is advising employers to notify their employees to review their personal situation to determine how the tax law changes may be impacting their tax withholding. https://www.irs.gov/newsroom/irs-encourages-paycheck-checkup-for-taxpayers-to-check-their-withholding-special-week-focuses-on-changes

Taxpayers may use the IRS Withholding Calculator https://apps.irs.gov/app/withholdingcalculator/ to estimate their income tax for 2018. This calculator will provide taxpayers information about adjusting their withholding allowances and/or their additional withholding amounts for federal income tax.

After completing this analysis on the IRS website, current W4 withholding allowances can be found on the last earning’s statement in the “Tax Data” box.

Employees can go to http://www.uwgb.edu/UWGBCMS/media/hr/forms/pay-employee-withholding.pdf?ext=.pdf to complete an amended W4.  All completed forms should be submitted to Human Resources for processing.

 

Now Available: Time & Absence Manager Self Service Dashboard

Starting on May 6, UW Managers and Supervisors have a new tool to help manage their Time and Absence approvals in the Human Resource System HRS. Called the ‘Time and Absence MSS (Manager Self Service) Dashboard,’ this tool will:

  • Provide a one-stop shop for Managers to process pending time and absence approval transactions for their employees.
  • Reduce the number of clicks required to access each page and to complete time and absence approval transactions.

Managers will now see a new icon on the ‘Manager Time and Approval’ tile in the MyUW portal, labeled ‘Time/Absence Dashboard.’ To access the dashboard, just click on the icon.

Managers and supervisors can watch a short video that provides an overview of the Time and Absence MSS Dashboard here: https://uwservice.wisconsin.edu/docs/pd/mss-dashboard/index.html. Dashboard support resources are available on the Time and Absence Help Page.

Please contact Payroll at payrollandbenefits@uwgb.edu or (920) 465-2390 with any questions.

Source: UW Service Center

End of Academic Year Leave Reports Reminder

This is a reminder to all Faculty & Instructional Academic Staff: As we are nearing the end of the 2017-2018 academic year, this is a reminder that all monthly leave reports need to be submitted online for approval by May 20, 2018.  Please review the Monthly Leave Reporting Instructions for details on how to enter leave reports.  Please remember that you must make a monthly leave entry, even if you did not take any leave during the month (No Leave Taken entry).  Failure to enter monthly leave reports will result in sick leave balances being reduced per Wis. Stats §40.05(4)(bp)1.) and as outlined in the Operational Policy BN 3- Sick Leave.

Please contact Payroll at payrollandbenefits@uwgb.edu with any questions.