Category: Payroll & Benefits

WISCONSIN DEFERRED COMPENSATION (WDC) INDIVIDUAL SESSIONS

Scott Schewe, representative from WDC, will be available to meet individually with employees regarding their current WDC enrollment and for those interested in learning more about the program and planning for retirement by investing before tax dollars.  Please see the linksfor more information about WDC’s Program highlights and new options.

• Program Features and Highlights
• Did you Know?

When:   Monday, April 1, 9:00 am to 4:00 pm
Where:   University Union Building, Room 103

You can schedule an individual session with Scott Schewe by emailing him at scott.schewe@greatwest.com .

Reminder….  There are still some open appointment times available to meet with TIAA-CREF on March 25^th and 26^th.

TIAA CREF INDIVIDUAL COUNSELING SESSIONS – March 25-26, 2013

TIAA CREF is offering individual and confidential counseling sessions (see attachment) where you can discuss your financial situation with a TIAA CREF consultant.  They will be available to help you achieve your financial goals by investing in financial solutions.

Please see the attached flyer for more information about TIAA CREF sessions at UWGB.   To schedule a consultation with representative Chad Stein, call 1-866-843-5640  Monday through Friday, 9:00am to 8:00pm (EST), or register at www.tiaa-cref.org/letstalk1 .

TIAA CREF is offering individual and confidential counseling sessions on March 25 & 26, 2013 where you can discuss your financial situation with a TIAA CREF consultant.  They will be available to help you achieve your financial goals by investing in financial solutions.

Please see the attached flyer for more information about TIAA CREF sessions at UWGB.   To schedule a consultation with representative Chad Stein, call 1-866-843-5640  Monday through Friday, 9:00am to 8:00pm (EST), or register at www.tiaa-cref.org/letstalk1 .

Fidelity Investments is offering individual and confidential counseling sessions where you can discuss your financial situation with a Fidelity consultant.  Consultations are meant for participants to review their current retirement plan, investment strategy, or discuss ways in which Fidelity can help along the road to retirement.

Wednesday, January 30, 2013
8:00 a.m. to 5:00 p.m.
University Union, Heritage Room #232

To schedule a confidential consultation with your Fidelity Investments representative, David Eichler, call 1-800-642-7131 or go to http://www.fidelity.com/atwork/reservation .

The Fiscal Cliff bill recently signed into law by President Obama did not include the lowered social security tax rates that expired on December 31, 2012.   For 2011 and 2012 federal legislation temporarily reduced the social security tax from 6.2% to 4.2%.   As a result, the 2013 social security tax rate has increased from 4.2% to 6.2% and is applicable to all earnings paid on or after January 1.  For more detailed information, please see the December 11^th posting on your portal or at https://uwservice.wisc.edu/news/index.php or contact the Payroll Office at 465-2390 or PayrollandBenefits@uwgb.edu.

Reminder:  Unclassified Monthly Pay Date for December Earnings is January 2, 2013

Unclassified employees paid on the 1st of each month will be paid on Wednesday, January 2, 2013 for December earnings since January 1st (New Year’s Day) is a Federal Reserve Holiday.

When a pay date falls on a Federal Reserve holiday or a weekend, the pay date is usually the previous business day.  An exception to this is the Unclassified monthly pay date that falls on New Year’s Day, January 1st.

To avoid tax-related issues, the January 1st pay date for December earnings is paid in the new calendar year and must be the first “official banking business day” following the New Year’s holiday.  The “official banking business day” is defined as a calendar day other than a Saturday, Sunday or a Federal Reserve holiday.  Please contact HR/Payroll at hr@uwgb.edu or 920-465-2390 if you have any questions.

Recordings of the T. Rowe Price live webinars that were available in November, Retirement Investing From Beginning to End and Retirement Milestones are now available.   Information about accessing these webinars can be found at: http://www.wisconsin.edu/hr/benefits/retsav/trpwebinar.htm

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

Attention:   All Employees Covered under the Wisconsin Retirement System

Your Wisconsin Retirement System (WRS) annual Statement of Benefits is now available online in the My UW System portal:  http://my.wisconsin.edu.  Login to the portal, go to the “Benefit Information” box, and click on the “Statements” tab.  Click on “ETF Annual Statement of Benefits (WRS) Issued 2012” to view and print your Statement.

The WRS annual Statement of Benefits provides you with information about your Wisconsin Retirement System account as of January 1, 2012. Some of the information on the Statement includes 2011 WRS earnings and creditable service; total years of WRS creditable service, and separation and death benefit calculations.  You should review this Statement closely for accuracy.

Change to Statement – Section 2 – After Act 10 Service

The name of your retirement category is in both Sections 1 and 2 of the Statement.  If you are in a General, Teacher or Protective retirement category, all of your creditable service will be listed in the “Before 2000” and/or “After 1999” columns in Section 2 of the Statement.  Only employees in an Elected or Executive retirement category will have creditable service in the “After Act 10” column.  2011 Wisconsin Act 10 changed the way retirement benefits are calculated for Elected/Executive category employees so service earned after Act 10 must be tracked separately for this group of employees.

Information to Help You Understand Your WRS Statement of Benefits:

• Written Explanation of the Statement
• Video Explanation of the Statement
• Webinars presented by the Department of Employee Trust Funds – Five live, interactive webinars.  See ETF’s website for dates and times (not yet available).
• UW Service WRS annual Statement of Benefits webpage

Please note that you will not receive a paper copy of the Statement.

If you feel that any information on your Statement is incorrect, please contact your payroll office at 920.465.2390.