NOTICE TO EMPLOYEES PARTICIPATING IN THE WISCONSIN RETIREMENT SYSTEM
Please see the following release from the Department of Employee Trust Funds regarding the interest rates applied to the WRS accounts for active members and eligible inactive members: http://www.etf.wi.gov/news/ht_20110211.htm
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
Please click on the following link to view the new TSA Investor newsletter: http://www.wisconsin.edu/hr/benefits/retsav/tsaspring11.pdf. This newsletter is being made available earlier than usual to announce an increase in the TSA fee.
In this newsletter, you will find articles regarding the following topics:
* TSA fee increase
* TSA program services the University provides
* New low-cost TIAA-CREF mutual fund share classes for UW employees
* Fidelity funds with K (institutional) share classes
The TSA fee is being increased from $9.00 to $15.00. The last fee increase was in 1999. At that time, the $6.50 fee from 1995 was increased to $9.00. We have been able to hold the fee to $9.00 for the past 12 years, but inflation and increased costs have necessitated the increase. If you have already paid the $9.00 fee, you will only be charged the difference of $6.00.
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
To find out more about HRS (the new Human Resource System) and how it will impact you, please mark your calendar to attend one of the following presentations in the 1965 Room in the University Union:
* Thursday, February 10th from 12:00 p.m. to 1:00 p.m.
* Friday, February 18th from 3:00 p.m. to 4:00 p.m.
* Monday, February 21st from 11:00 a.m. to 12:00 p.m.
* Thursday, March 3rd from 12:00 p.m. to 1:00 p.m.
You can also view the power point presentation online at http://www.uwgb.edu/hr/documents/hrs.pptx.
Please e-mail hr@uwgb.edu or call 465-2390 if you have any questions.
The Department of Employee Trust Funds (ETF) and the State of Wisconsin Investment Board (SWIB) have joined together to create a new joint publication, WRS News. WRS News replaces ETF’s former publication, Trust Fund News and SWIB’s former publication, The SWIB Report.
The first issue of WRS News, January, 2011, is available for you at http://etf.wi.gov/publications/WRS%20News/wrs_news201101.pdf
WRS News will provide members of the Wisconsin Retirement System with news and information on the direct relationship between the management and investment of WRS assets and your WRS benefits.
The newsletter is divided into two sections: ETF’s Benefits section will provide updates and information about WRS retirement benefits.
SWIB’s Investment section will include news about the investment performance of WRS assets, how WRS assets are invested, federal and state laws that impact investments, and other related topics.
WRS News will be published in January, May and September. The newsletter will be available on the MY UW SYSTEM portal, http://my.wisconsin.edu for employees system-wide, and on the MY UW-Madison portal, http://my.wisc.edu, on the Work Record tab, for UW-Madison employees. You will not receive direct email notification when each new issue is published. Please check the portal for the most recent issue.
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
Please click on the following link to view information about HRS and Self Service:
Please e-mail hr@uwgb.edu or call 465-2390 if you have any questions.
NOTICE TO EMPLOYEES REGARDING INFORMATIONAL WEBINAR
T. Rowe Price, one of the investment companies participating in the UW System TSA 403(b) program, is sponsoring the webinar “Retirement Investing From Beginning to End” on February 7 and 8, 2011. You can watch the presentation on your own computer. Listen to the audio portion on your telephone. There is no registration required. This 40-minute program is a comprehensive presentation that explains asset classes, reviews the concepts of risk and return, and helps employees make the most of their investment choices.
For more information, go to http://www.uwsa.edu/hr/benefits/retsav/trpwebinar.htm
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
NOTICE TO ALL EMPLOYEES PARTICIPATING IN THE WISCONSIN RETIREMENT SYSTEM
Please see the attached press release regarding the 2010 WRS returns: http://www.swib.state.wi.us/2010_returns.pdf. There is additional information available on SWIB’s main page as well: http://www.swib.state.wi.us/.
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
There have been some notable changes regarding taxes for 2011. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on December 17, 2010 enacted a two percentage point payroll tax cut for employees, reducing their Social Security tax withholding rate from 6.2% to 4.2% of wages paid.
There has been a change to the Federal Tax Withholding Tables for 2011. IRS Notice 1036 provides a summary of the recent tax law changes and includes the 2011 percentage method income tax withholding tables. State of Wisconsin income tax rates will remain the same for 2011. Employees are encouraged to review their federal income tax withholding every year; any major life changes may prompt you to submit a new W-4 Form to change your tax withholding.
For further information, please see the HR, Payroll and Benefits News section in the My UW System Portal. If you have questions e-mail benefits@uwgb.edu or call 465-2390.
NOTICE TO ALL SUPERVISORS AND EMPLOYEES PARTICIPATING IN THE WISCONSIN RETIREMENT SYSTEM
As a reminder, for those employees considering retirement and supervisors considering rehiring recently retired employees, please review the Q&A found in the link below. There are several rules and statutes governing rehired annuitants that must be followed to minimize jeopardizing the recently retired employee’s benefits.
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
The State of Wisconsin Investment Board (SWIB) just released the WRS investment returns through November 30th. The Core Fund is up 7.6% and the Variable Fund is up 8.0%. You can visit SWIB’s website for more information: http://www.swib.state.wi.us/.
In addition, the UW System Administration has updated documents that outline how market conditions affect your WRS benefits: http://www.uwsa.edu/hr/benefits/retsav/wrsdownturn.html. For employees still considering on whether to retire at the end of 2010 or beginning of 2011, you can review the Retiree Q&A for information for help: http://www.uwsa.edu/hr/benefits/retsav/downturnretireeQA.pdf.
Please e-mail benefits@uwgb.edu or call 465-2390 if you have any questions.
