Category: Payroll & Benefits

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.

Additional Contributions

Find out how making additional contributions to your WRS account can potentially increase your retirement. This webinar also provides examples of how contributions grow over time with interest, how to pay additional contributions (payroll deduction or direct pay), etc.

• Thur, Feb 1, 2018 11:30 a.m. – 12:00 p.m.
• Thur, Feb 15, 2018 12:00 p.m. – 12:30 p.m.
• Tue, Feb 20, 2018 12:30 p.m. – 1:00 p.m.

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Beneficiary Designations – What Happens to My Account When I Die

Do you have a beneficiary designation on file with ETF and does it reflect how you would want your WRS death benefits paid? This webinar reviews the importance of having a beneficiary designation on file and keeping it updated as life events occur. ETF will also review how to correctly complete a designation form, what it means if you do not have one on file with ETF, and how to request a copy of your current form.

• Wed, Feb 7, 2018 12:00 p.m. – 12:30 p.m.
• Tue, Feb 20, 2018 11:00 a.m. – 11:30 a.m.
• Mon, Feb 26, 2018 12:30 p.m. – 1:00 p.m.

 

Overview of the Wisconsin Retirement System

This webinar will cover participation in the Wisconsin Retirement System, how the WRS is funded and what benefits are available under the WRS. A brief overview of the Core and Variable Trust Funds and how the WRS is structured are included.

• Tue, Feb 6, 2018 11:00 a.m. – 11:30 a.m.
• Wed, Feb 14, 2018 11:30 a.m. – 12:00 p.m.
• Thur, Feb 22, 2018 12:00 p.m. – 12:30 p.m.
• Tue, Feb 27, 2018 6:00 p.m. – 6:30 p.m.

 

WRS Annuity Adjustments and Effective Rates

Do WRS accounts receive an investment return? Do investment returns affect how much a retiree will initially receive when they begin their pension? Do those retired in the WRS receive adjustments to their monthly pension amount over the years? This webinar will cover the process of how account effective rates and annuity adjustments are calculated, starting with the investment return reported by the State of Wisconsin Investment Board. Also covered during the webinar will be explanations of both the Core and Variable Trust Funds and the calculations specific to each fund for effective rates and annual adjustments. At the end of this webinar, it is hoped that you will have a better grasp on how State of Wisconsin Investment Board investment returns affect your WRS pension.

• Fri, Feb 2, 2018 11:00 a.m. – 11:30 a.m.
• Thur, Feb 8, 2018 6:00 p.m. – 6:30 p.m.
• Mon, Feb 12, 2018 11:30 a.m. – 12:00 p.m.
• Wed, Feb 21, 2018 12:00 p.m. – 12:30 p.m.

 

WRS Employee Benefits Seminars

Attend a Wisconsin Retirement System employee benefits seminar and come away with a greater understanding of your WRS benefits and how they work. These one-hour evening presentations, hosted by the Department of Employee Trust Funds in cities throughout Wisconsin, are designed for all members, especially those who are within five years of retirement. Topics covered include the retirement process itself, return-to-work rules, the Core and Variable Trust Funds, beneficiary designations, purchasing service, how “life events” affect your benefits, and much more. Questions are encouraged – stick around for the Q&A session afterward!

• Mon, Mar 19, 2018 6:30 p.m.- 7:30 p.m.
• Wed, Apr 4, 2018 6:30 p.m.- 7:30 p.m.
• Thu, Apr 19, 2018 6:30 p.m.- 7:30 p.m.

 

Register for a webinar

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

Saving is possible!

We all agree that saving is a good idea. That’s the easy part. Figuring out how to manage your expenses so you can save, or save more? That may not be so easy. America Saves Week is your opportunity to commit—or recommit—to saving for today and for later in retirement. Saving is more than just a good idea. It’s possible!

America Saves is a national campaign that encourages individuals and families to assess their savings and take financial action. This is a great opportunity to expand your financial knowledge and set some new savings goals.

The University of Wisconsin is promoting the America Saves Week campaign. In the upcoming weeks be on the lookout for in-person workshops, interactive webinars, videos, handy tips and information on saving and financial wellness. Look forward to more information as we encourage savers – or potential savers – just like you to set a goal, make a plan, and save automatically.

Pursuing your financial goals, that’s what saving—and America Saves Week—is about.

Source: UW System Human Resources

The Income Continuation Insurance (ICI) program is an ‘income replacement’ benefit plan that replaces up to 75% of your gross salary if you are unable to work due to a short or long-term disability.

If you are not currently enrolled in ICI, you may be able to enroll during the Annual ICI Deferred Enrollment opportunity through March 1, 2018. If you are currently enrolled in the ICI plan and have Standard ICI coverage, you may be eligible for Supplemental ICI coverage. Eligible employees were notified by email on January 19 from the UW System HR (uwsystemhr@uwsa.edu) email address.

Please see the Income Continuation Insurance section of the UW System Employee Benefits website for more information regarding eligibility and income continuation insurance benefits.

To apply for coverage through the Deferred Enrollment opportunity, you must complete an Income Continuation Insurance Application (ET-2307) and return it to your human resources office on or before March 1, 2018. ICI coverage elected through deferred enrollment will be effective April 1, 2018.

If you have questions, contact Payroll & Benefits at payrollandbenefits@uwgb.edu or (920) 465-2390.

Source: UW Service Center

FAST Meal Plan options using payroll deduction for Spring 2018 has arrived.  This opportunity is open through February 9, 2018 for post-tax deductions from your payroll starting March 1st.

Please complete the form found here: FAST Meal Plan Deduction Request – to enroll in a meal plan.

Some details you might like to know about as you decide to enroll in a plan:

• Chartwells is again sponsoring $50 in FAST Points for all FAST 75 plans (they are also sponsoring $25 and $15 on the FAST 50 and Fast 200 plans respectively)
• All new FAST 75 Plans include a mug for free refills of coffee and soda through May 10, 2018
• All previous FAST 75 Plan customers who purchase a FAST 50 or FAST 75 plan will receive a mug for free refills of coffee and soda through May 10, 2018
• If you were a previous FAST 75 Plan holder, you can reuse your old mug and save $10 on the FAST 75 plan or FAST 50 plan
• Reusable To-Go containers are available for all plan holders so you can create your own “Takeout” meal from the Marketplace inside Leona Cloud Commons

Please contact either Rick Warpinski at warpinsr@uwgb.edu or Tammy Olp at olpt@uwgb.edu with any questions.

The 2017 W-2 Wage and Tax Statements are now available online in the MyUW Portal.  Launch the Payroll Information module and click on the Tax Statements tab. Paper copies of the W-2 will be mailed via U.S. mail by January 31, 2018.

A printed W-2 from the portal is a valid document for tax filing. However, employees filing a W-2 printed from the portal, must write their Social Security or Individual Tax Payer Identification number in the “a” field at the top of each Form W-2 section. Social Security and Tax Payer Identification numbers were removed from the online W-2 statements to increase the security of sensitive online information.

Some employees will also receive additional tax forms from the University (Examples: 1095-C, 1042-S, Fellowship/Scholarship Letter).

• The 1095-C Form will be mailed via U.S. mail to employees in early February and available on the portal by mid-February. All UW employees who were full-time for some or all months of 2017 will have a 1095-C to document that health insurance coverage was offered to them. Employees will need the 1095-C as part of their documentation requirement when filing 2017 taxes.
• The 1042-S Forms will be available by March 1, 2018 in the Glacier Online Tax Compliance System for those who chose the option of electronic delivery; others will have them mailed to their home address. The 1042-S Forms will be posted on the portal after March 17.
• The Fellowship/Scholarship Letter will be mailed to the employee’s home address.

Filing Your Taxes

Employees should use their W-2 Form, not their final 2017 earnings statement, to file taxes. Some employees have had adjustments made to their 2017 taxable earnings since the last 2017 payroll was paid. These employees 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 Internal Revenue Service (IRS) will begin accepting returns on January 29, 2018 for the 2017 tax filing season. Employees may want to consider filing their return as soon as all necessary tax forms are received to minimize the chance of a fraudulent return being processed using their Social Security number, or Individual Tax Payer Identification number. More information is available on the IRS website.

Additional Resources: W-2 Explanation, W-2 Overview and Earnings Statement Comparison

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

Source: UW Service Center